April 6, 2017 / 7:05 AM / in 4 months

German banking group head hopes ECB to end bond buying soon

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BERLIN, April 6 (Reuters) - The European Central Bank should end its expansionary monetary policy soon, the president of the German banking association (BdB) said on Thursday.

Hans-Walter Peters told a banking conference that a rethink was needed at the ECB as soon as possible, adding that German banks were hoping for a reduction in bond buying by the end of the year and the end of negative interest rates next year.

Meanwhile, BdB CEO Michael Kemmer said he did not expect fees for banking services to disappear when low interest rates end. He also said he did not expect the complete deregulation of the financial sector under U.S. President Donald Trump. (Reporting by Gernot Heller; Writing by Emma Thomasson; Editing by Maria Sheahan)

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