FRANKFURT, Sept 30 Germany's central bank sees
no need for a new global stimulus package like the one advocated
by the International Monetary Fund, as it expects the world's
economy to continue to recover, Bundesbank board member Andreas
Dombret said on Friday.
IMF calls for the world's largest economies to embark on
fresh stimulus have gone unheeded in Germany, where the central
bank opposes further monetary easing and the government is
reluctant to eat into its record budget surplus.
"We see no need for a global, coordinated package of
monetary, fiscal and structural measures," Dombret said ahead of
the IMF's annual meeting on Oct. 7-9.
"It is rather about the right policy mix, consistent with
stability, in individual countries."
Dombret added that fears of "secular stagnation", that is
persistently low economic growth, were overblown, even
accounting for ageing populations in developed economies
"The danger of slipping into a secular stagnation is in our
view overestimated," Dombret said.
"A certain weakening of trend growth in developed economies
is unavoidable against the background of demographic
developments," he added.
(Reporting by Francesco Canepa; Editing by Alison Williams)