Weidmann, one of the ECB's top hawks, also argued that even with inflation dipping into negative territory recently, he does not see the risk of sustained deflation, or fall in prices.
He was also not convinced that the drop in core inflation, which strips out volatile components such as food and energy prices, would continue.
The ECB cut rates and expanded its asset purchase programearlier this month to boost inflation in a move opposed by Weidmann, who argued that government bond buys should be an emergency tool and warned that banking profits would suffer.
"We as central bankers are not so much concerned about banking profits but about banks' ability to transmit monetary policy," Weidmann said in a speech in Lichtenstein. "And this ability to transmit policy is not independent of their capital base, because that largely determines how well banks can absorb shocks."
Weidmann also warned that ultra low rates could lead to asset bubbles and also reduced governments' willingness to carry out structural reforms, a precondition to faster growth and a revival of inflation.