UBS Group Chairman and former president of Germany's Bundesbank, Axel Weber reported in the Wall Street Journal

  • "We are now at a point...probably [where] the net benefits of further monetary easing, in particular in Europe but also in Japan, are outweighed by the costs and side effects"
  • Said negative interest rates "are only possible for a very short time and in close proximity to zero"
  • Doubts that the ECB's bond-purchase program will bolster economic growth and inflation

On the Federal Reserve, Weber doubts they can raise rates as other major central banks cut:

  • " ... it is likely that there is going to be a more cautious policy response in the United States, because otherwise there would be a stronger appreciation of the U.S. dollar"

The Journal piece is here, may be gated