Buba’s Dombret: Looks like a hard Brexit or very hard Brexit

Germany’s central bank - Bundesbank (Buba) board member Andreas Dombret, crossed the wires last hour, speaking in Tokyo on Bloomberg TV.

Main Headlines:

Looks like a hard Brexit or very hard Brexit

Brexit is manageable for banks with proper preparation

Expects that London will continue to be the financial centre

Germany economy doing rather well

Sees a robust Germany economy in 2017 through 2019

Declines to comment on EUR FX rate

Inflation in euro area is up markedly

Does not see any deflationary tendencies in Europe

Stronger economy to be a tailwind for wages, consumption

1.2% core inflation is still quite far away from target, so present monetary stance seems justified for now 

See solid economic development in China to mid term

Not afraid of immediate downside effects in China