German central bank chief to step down after 10 years

By GEIR MOULSON
Associated Press

BERLIN (AP) — The head of Germany’s central bank has announced that he will step down after a decade at the helm. A statement Wednesday from the Bundesbank says Jens Weidmann will leave office at the end of the year for personal reasons. National central bank governors have a seat on the European Central Bank’s governing council, and in that position, Weidmann has been the chief skeptic of expansive stimulus policies, such as bond purchases. His voice has been amplified on 25-member governing council because he comes from the largest eurozone economy. Weidmann has tended to urge restraint in measures that involve buying government bonds of member states. He’s headed the Frankfurt-based Bundesbank since 2011.