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Deutsche Bank and Commerzbank warn on inflation; BNP wants growth -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: Deutsche Bank’s logo can be seen on the London offices of a British company, July 8, 2019. REUTERS/Simon Dawson

FRANKFURT (Reuters), – The top executives at Germany’s 2 largest banks. Deutsche Bank Commerzbank and (DE-) both warned of inflation Friday. However, the Chairman of BNP Paribas (OTC 🙂 stated that growth is the real problem.

Frankfurt, Germany – The conference was attended by bankers. Investors closely monitor the European Central Bank to see how it reacts to rising inflation.

Christian Sewing, CEO of Deutsche Bank, said that inflation would “persist for longer”. Manfred Knof CEO at Commerzbank said “we believe inflation is going to remain.”

Sewing said that a reaction was also needed from the ECB sooner than Christine Lagarde, ECB President, had suggested.

Jean Lemierre of BNP Paribas stated that slightly higher inflation would not be a problem and that it was not necessary to have an “endless conversation” regarding inflation.

He said, “The true question isn’t inflation today but growth.”

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