Economics
ECB Wins EU Top Court Fight Over Legality of QE Program
- EU court ruling comes ahead of crucial ECB meeting Thursday
- Court says bond-buying program in line with ECB mandate
This article is for subscribers only.
The European Central Bank didn’t overstep its mandate by setting up a quantitative-easing program to stave off deflation, judges at the European Union’s top court ruled.
The ECB’s bond purchasing program is in line with the law, the EU Court of Justice said, dismissing the latest in a series of challenges from critics who argue the tool deployed by ECB President Mario Draghi clashes with a ban on so-called monetary financing.