Friday, July 1, 2022

ECB’s de Cos says German court ruling on debt buying won’t affect policy

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MADRID (Reuters) – European Central Bank policymaker Pablo Hernandez de Cos said on Wednesday that a recent German court ruling regarding the implementation of the Public Sector Purchase Programme would not affect the institution’s future monetary policy.

Germany’s Constitutional Court ruled in May that the ECB exceeded its powers with the purchase scheme and gave it three months to prove proportionality.

“The decision (from the German court) is not, and will not be affecting ECB decisions at all,” De Cos told a seminar hosted by a group of economists.

(Reporting by Jesús Aguado and Emma Pinedo; editing by Andrei Khalip)

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