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Bundesbank's Weidmann: Europe not ready to end expansive policy

Saturday, 20 Jul 2013 | 8:46 AM ET
Jens Weidmann
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Jens Weidmann

The time has not yet come for Europe to exit expansive monetary policy, European Central Bank policymaker and the head of Germany's Bundesbank, Jens Weidmann, said on Saturday.

The U.S. Federal Reserve is not putting a break on expansive policy, Weidmann said after a summit of the finance ministers and central bankers of the Group of 20 leading economies in Moscow.

It is simply easing the foot on the accelerator, he said.

Weidmann added that Germany's economy likely expanded strongly in the second quarter of this year. He expected more moderate growth for the third quarter.

(Read More: ECB's Draghi Defends Interest Rate Guidance)

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