ECB's Weidmann: No acute need to adjust ECB rate guidance

Speaking at a press conference in Frankfurt, Deutsche Bundesbank President, also the ECB Vice-President Jens Weidmann said that the German growth slowdown has extended into 2019 and could fall well short of 1.5%, but there is still no reason to be overly pessimistic about the economy.

Additional quotes:

   •  Monetary policy normalization is still the baseline scenario.
   •  Normalization of monetary policy will be a gradual process, lasting several years.
   •  Ending QE was only the first step.
   •  No acute need to adjust ECB rate guidance.