ECB's Weidmann: Sceptical about tolerating inflation overshoot

Jens Weidmann, European Central Bank (ECB) Governing Council member and Bundesbank President, said on Thursday that he backs the symmetric inflation goal at 2% over the medium term and added that he is sceptical about tolerating inflation overshoot.

"The ECB should communicate it will raise rates when price stability requires it, regardless of states' financial needs," Weidmann added.

Market reaction

These comments don't seem to be having a significant impact on the shared currency's performance against its rivals. As of writing, the EUR/USD pair was unchanged on the day at 1.1853.