The ECB “takes note” of the opinion of the German Constitutional Court and refers to the 2018 TEU ruling

Lagarde acknowledges that inflation in the medium term is a kind of mystery due to the coronavirus

Christine Lagarde, President of the ECB

The Governing Council of the European Central Bank (ECB) has assured that it “takes note” of the opinion of the German Constitutional Court on the public debt purchase program (PSPP for its acronym in English), although it has been referred to the ruling of the Court of Justice of the European Union (TUE), which endorsed the measures of the monetary authority.

It’s a statement, Issued after an emergency meeting of the Governing Council on Tuesday, the ECB has stressed that it is “fully committed” to doing whatever it takes to meet its target of inflation being “close to but below” 2%.

“The Governing Council remains” fully committed to doing whatever is necessary within its mandate to ensure that inflation rises to levels consistent with its medium-term objective as the monetary policy adopted to pursue that objective of maintaining stability of prices is transmitted to all parts of the economy and to all the jurisdictions of the euro zone, “explained the issuing institute.


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