ECB’s Weidmann: ECB should not take lightly side effects of ultra-loose policy

ECB member and Bundesbank Chief Jens Weidmann was out on the wires in the last hour, saying that the ECB should not take lightly the side effects of ultra-loose policy and normalization process should not be unnecessarily long.

Additional quotes:

   •  Inflation in Euro-zone now broadly in line with price stability.
   •  Monetary policy room to manoeuvre likely to be limited in a future downturn.
   •  Monetary policy room for manoeuvre likely to be limited in a future economic downturn.
   •  Italy should not abandon debt reduction effort, now not the time to ease fiscal restraint.