Federal President of Germany Frank-Walter Steinmeier has appointed Jens Weidmann President of the Bundesbank for another eight years, with effect from 1 May. At Schloss Bellevue in Berlin, the Federal President presented Mr Weidmann with the certificate of appointment for his second term of office.

Bundesbank President Jens Weidmann feels that the introduction of central bank digital currency (CBDC) needs careful consideration. The various risks suggest that a prudent design and cautious approach would be essential, he said at the Bundesbank’s virtual autumn conference. CBDC is not necessarily needed to provide the general public with quick, secure and cheap payment methods.

Bundesbank President Jens Weidmann feels that the introduction of central bank digital currency (CBDC) needs careful consideration. The various risks suggest that a prudent design and cautious approach would be essential, he said at the Bundesbank’s virtual autumn conference. CBDC is not necessarily needed to provide the general public with quick, secure and cheap payment methods.

The Board of Directors of the Bank for International Settlements (BIS) has re-elected Bundesbank President Jens Weidmann as Chairman for another three-year term, beginning on 1 November 2021.

The Bundesbank posted a profit of € 2.5 billion for the 2018 financial year, representing a year-on-year increase of € 0.5 billion. This increase was due to higher interest income, noted Bundesbank President Jens Weidmann.

A Memorandum of Understanding has been signed between the Deutsche Bundesbank and the People’s Bank of China.

Bundesbank President Jens Weidmann has drawn attention to the dangers of issuing digital central bank money, and urged caution. “Any introduction of central bank digital currencies needs to be carefully considered,” he commented at this year’s Bundesbank Payments Symposium in Frankfurt am Main.

Bundesbank President Jens Weidmann believes that the Governing Council of the European Central Bank should make sure that it does not miss the right time for monetary policy normalisation. Speaking in Frankfurt, he noted that monetary conditions would continue to support economic activity for a long time to come.

Bundesbankpräsident Joachim Nagel ist in einen Beirat zur Förderung von Finanzbildung berufen worden und folgt damit auf seinen Amtsvorgänger Jens Weidmann.