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Defiant ECB Pledges Full Commitment After German QE Ruling

  • Governing Council met after court criticized bond program
  • ECB noted that EU’s top court says its within its mandate
European Central Bank headquarters in Frankfurt.

European Central Bank headquarters in Frankfurt.

Photographer: Martin Leissl/Bloomberg
Updated on

The European Central Bank responded to a German court ruling criticizing its long-standing bond-buying program by pledging to continue doing everything necessary to revive inflation.

After an evening conference call to discuss the surprise decision by Germany’s constitutional court, the Governing Council said it took note of the judgment. But it also pointedly remarked that the top European court has previously said quantitative easing is legal.