Bundesbank can continue to buy bonds for time being – Scholz

BERLIN, May 5 (Reuters) – The ruling by Germany’s top court on the European Central Bank’s bond-buying programme allows the bank to make such purchases in principle and the Bundesbank can continue to take part for now, German Finance Minister Olaf Scholz said on Tuesday.

“The court clearly ruled that the European Central Bank’s bond-buying programme is not monetary financing of states,” Scholz told reporters, adding that the programme was in line with Germany’s constitution in this regard.

Scholz said the court’s three-month ultimatum for the ECB to justify its stimulus scheme was “quite a long time period”, adding that Germany’s central bank would be able to continue to participate in the programme for the time being. (Reporting by Michael Nienaber Editing by Michelle Martin)

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