Deutsche Bank CEO calls on central banks to fight inflation

FILE PHOTO: Germany's Deutsche Bank headquarters are pictured in Frankfurt
FILE PHOTO: The headquarters of Germany's Deutsche Bank are pictured in Frankfurt, Germany, September 21, 2020. REUTERS/Ralph Orlowski

November 15, 2021

FRANKFURT (Reuters) – Central bankers must change course to fight accelerating inflation, Deutsche Bank Chief Executive Officer Christian Sewing said on Monday.

Sewing, speaking at a banking conference, said he didn’t share the opinion of central bankers that inflation increases were temporary.

“I think monetary policy must take countermeasures here – and sooner rather than later,” Sewing said.

“The supposed panacea of recent years – low interest rates with seemingly stable prices – has lost its effect, and now we are struggling with the side effects,” he said.

(Reporting by Tom Sims and Frank Siebelt; Editing by Paul Carrel)