FILE PHOTO: German Bundesbank President Jens Weidmann is pictured Frankfurt, Germany, February 27, 2018. REUTERS/Ralph Orlowski/File Photo

NUSA DUA, Indonesia (Reuters) - There is a diminishing chance for the escalation of the trade conflict between the world’s two biggest economies, China and the United States, the president of Germany’s central bank said on Saturday.

“I got the impression that both are not interested in a further escalation,” the Bundesbank’s President Jens Weidmann said at the annual meetings of the International Monetary Fund and World Bank in the Indonesian tourist resort of Bali.

He added that he felt there had been a change of mood, and no longer saw a further escalation of the trade conflict as likely.