ECB committed to easy policy even after court rulingECB committed to easy policy even after court ruling
FILE PHOTO: The spread of the coronavirus disease (COVID-19) in Frankfurt

FRANKFURT (Reuters) – The European Central Bank (ECB) remains committed to doing everything in its mandate to lift inflation back to its target, the bank said on Tuesday after the German constitutional court ruled it exceeded its powers with its asset purchase scheme.

“The ECB takes note of today’s judgment by the German Federal Constitutional Court regarding the Public Sector Purchase Programme,” the bank said, adding that the European Court of Justice earlier ruled the programme legal.

“The Governing Council remains fully committed to doing everything necessary within its mandate to ensure that inflation rises to levels consistent with its medium-term aim,” it added.

(Reporting by Balazs Koranyi; Editing by Emelia Sithole-Matarise)