22 October 2021

German central bank head Jens Weidmann to resign at end of year.

Germany's central bank chief Jens Weidmann on Wednesday submitted his resignation to President Frank-Walter Steinmeier.

Weidmann, who has been the president of the Bundesbank since May 2011, is set to leave office on December 31.

His resignation comes as the ECB faces difficult questions over tackling rising inflation and winding down its massive COVID pandemic stimulus program.

Weidmann, now 53, was the youngest Bundesbank president when he took over the role from Axel Weber in 2011. Weber had quit in a dispute over the ECB's policy to control the crisis at the time.

Before his role as the Bundesbank chief, Weidmann served as Chancellor Anegla Merkel's economic adviser for five years.

Weidmann studied in Paris and Bonn. In 1997, he started a two-year stint at the International Monetary Fund.

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