Jens Weidmann - the next President of the ECB?

Jens Weidmann reports that he is ready to succeed Mario Draghi as the next president of the ECB. The strongest trump to the head of the German central bank so far is that he wants the position. But if this is enough to get the role of the most important "central banker" in Europe, we are yet to see.
Weidmann believes that every member of the Governing Council of the ECB should have a willingness to contribute to monetary policy and under another role, the German said in a special weekend interview.
According to Weidmann, public discussions about who will inherit Draghi at the end of his mandate from the end of 2019 began "too early". The European authorities will hardly decide who will be Dragh's heir this year, Weidmann said.
Weidmann became head of the German central bank in 2011. So far, he refused to comment on his chances of being a heir to Draghi and a key candidate for the ECB's post.
Weidmann is considered to be one of the most aggressive Eurozone members of the Monetary Committee.
The expert, however, is expected to have a lot of competition for the post. So far, other representatives of the Monetary Policy Committee have expressed their wish for the position of Draggi. One of them was Erkki Liikanen, the head of Finnish central bank. On Saturday, he said he was open to considering the proposal for this post if invited.
Weidmann has not once and twice announced the recent ending of the ECB's incentives. The eurozone is doing well and its economy does not need such incentives, says the German candidate.
The next ECB interest rate meeting will be on June 14th. It is expected to give more clarity about the future of monetary policy.

The British Central Bank kept its key interest rate

The Bank of England did not change its monetary policy and left its key interest rate unchanged at a record low of 0.25%, which was expected given that Prime Minister Teresa May has scheduled a surprising parliamentary election on June 8, and a change in monetary policy would be very unexpected. This would negatively affect the markets.

Meanwhile, at a press conference, Mike Carney said that British households should expect a tough year.

For the 2017 and 2019 the Central Bank raised its forecasts.

The dollar took a pause in the light of the events risk

The US currency gained support after the publication of the Fed minutes, however, it was short-lived growth. Despite the rather "hawkish" tone of the document, confirming a high probability of tightening monetary policy until the end of the year, the dollar, updating the long-term highs, moved to the correction mode. Most likely, the players decided to partially withdraw profits at high levels, as the USD tomorrow should pass two important tests - the speech of the Central Bank J. Yellen and report on retail sales.

Yellen defended the tactics of caution

Federal Reserve Chairman Janet Yellen defended the decision of the institution to be cautious in tightening monetary policy, citing global risks.

"Global development increases risks to the economic outlook and financial conditions are not as favorable as in December when there were taken first raise rates in a decade." - Said Yellen in a speech in New York, but did not say when she expects the central bank to proceed with the action.

According to Yellen, the negative effects of volatility in global markets during the first seven weeks of 2016 are likely to be limited, but it is not yet certain. Separately, data, pointing to a strengthening of the base inflation in the US is still not sufficiently convincing.

Fed Chairman assured investors that the institution has the necessary tools to support the economy in the case of recession, although it couldn't lower rates significantly. There are possible however, purchases of assets or exchange of short-term versus long-term bonds.