German ECB board member Schnabel shrugs off court ruling against bond-buying
Isabel Schnabel is a German economist on the ECB board
Speaking with the Financial Times in an interview:
- "We are not adjusting our monetary policy in any way in response to this ruling." She added that the court ruling "does not directly affect us" and instead was likely to be dealt with by the Bundesbank.
Schnabel underlined the ECB's resolve to rise above the ruling by signalling that next week it is likely to expand the size, scope and timeframe of the €750bn pandemic emergency purchase programme (PEPP) bond-buying scheme
- said the stand-off would not be allowed to inhibit ECB bond purchases
Link here to the Financial Times for more (may be gated)