February 25, 2017 / 4:40 PM / 6 months ago

ECB won't end asset purchase program all of a sudden, Weidmann says

FILE PHOTO: Central Bank (Bundesbank) Chief Jens Weidmann attends a press conference after the Franco-German Financial Council meeting in Berlin, Germany, September 23, 2016.Axel Schmidt/File Photo

BERLIN (Reuters) - The European Central Bank will not put a sudden end to its asset purchase program, ECB policymaker Jens Weidmann said in an interview with German newspaper Frankfurter Allgemeine Sonntagszeitung.

In comments due to be published on Sunday, Weidmann reiterated his criticism of the ECB's asset purchases, saying he saw them "very critically".

"Given that debts are still high in some euro zone countries, that could cause pressure to build on monetary policy to keep interest rates low for longer than is absolutely necessary," said Weidmann, who is also an ECB policymaker.

But he added: "The ECB (Governing) Council will not end the purchases all of a sudden now."

Reporting by Michelle Martin; Editing by Hugh Lawson

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