October 4, 2018 / 8:55 AM / 6 months ago

EU court's advocate general backs ECB's bond purchases

FRANKFURT, Oct 4 (Reuters) - The advocate general of the European Court of Justice rejected on Thursday a German complaint seeking to block the European Central Bank’s 2.6 trillion euro bond-buying programme, a key cornerstone of its efforts to stimulate euro zone inflation.

“The programme does not infringe the prohibition of monetary financing and does not exceed the powers of the ECB,” Advocate General Melchior Wathelet said in an opinion to the court.

The advocate’s opinions are not binding but the court generally follows them. (Reporting By Francesco Canepa; editing by John Stonestreet)

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