Economics
ECB Tackles German Court Ruling With Claim QE Helps the Economy
- ECB releases account of its June 3-4 Governing Council meeting
- Unprecedented monetary stimulus continues to draw lawsuits
ECB President Christine Lagarde is displayed on a mobile phone and laptop computer during a live stream video of the central bank's virtual rate decision news conference in Frankfurt on June 4, 2020
Photographer: Simon Dawson/BloombergThis article is for subscribers only.
European Central Bank officials insisted at their latest policy meeting that bond purchases are the best tool to stimulate the economy and have inbuilt safeguards against side effects, directly tackling the core argument of a German legal ruling against quantitative easing.
The account of the Governing Council’s June 3-4 teleconference showed that Chief Economist Philip Lane argued both an older and more recent asset-purchase programs were “proportionate measures” for pursuing price stability.