ECB’s Weidmann – Oil drop is a stimulus

The minutes of the U.S. Fed’s October meeting released on Wednesday showed the majority of U.S. central bankers in favour of a December liftoff. Fed officials seemed confident that the goals of full employment and stable two per cent inflation can be met in due course. Atlanta Fed President Dennis Lockhart is of the opinion that the turmoil in the global financial markets that had caused the Fed to delay rate hike, has settled considerably. "I believe it will soon be appropriate to begin a new policy phase," he said. He also expects prices to rise as the downward pressure from a strong dollar and low oil prices begin to fade. He is "comfortable with moving off zero soon," if of course there is no unexpected downturn in the economic outlook.