Bundesbank director Wuermeling denies QE favours certain countries

Bundesbank (Buba) director Joachim Wuermeling in Gernam press (BZ)

• denies QE favours certain countries

Bloomberg reporting the comment from Wuermeling in German newspaper Boersen Zeitung (B.Z. )

Bundesbank weighing in in support of the European Central Bank as it brushed off allegations its favouring individual countries in the Eurozone such as Italy & France in its bond purchase programme (QE)

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The remark will be somewhat swamped by the focus on the equity market rout. FX markets have been impacted by stock market moves, fairly mildly, with a 'risk off' move weighing on EUR, AUD et al. Yen and CHF will (somewhat) benefit from 'safe haven' flows.