Jens Weidmann has decided to step down after a decade as head of the German central bank, weeks after the country’s parliamentary elections and shortly before a decisive decision on the future of monetary policy in the euro zone.
Since joining the Bundesbank, Weidmann has been one of the sharpest critics of the ultra-loose monetary policy of the European Central Bank, whose bond buying and negative interest rate policy he often fought alone.
Weidmann told Bundesbank employees that he had decided to resign at the end of the year. “
The move, less than two years after Weidmann’s mandate was extended for another eight-year team, comes when three German parties are in negotiations to form a government for the country.