May 7, 2020 / 2:54 PM / 18 days ago

ECB is 'undeterred' by German court ruling against bond buys: Lagarde

FILE PHOTO: European Central Bank (ECB) President Christine Lagarde gestures as she addresses a news conference on the outcome of the meeting of the Governing Council, in Frankfurt, Germany, March 12, 2020. REUTERS/Kai Pfaffenbach/File Photo

FRANKFURT (Reuters) - The European Central Bank is undeterred by a German court ruling demanding that it justify its massive purchases of government bonds or lose the Bundesbank as its main buyer, ECB President Christine Lagarde said on Thursday.

“We are an independent institution, accountable to the European Parliament, driven by mandate,” Lagarde told a Bloomberg webinar. “We’ll continue to do whatever is needed... to deliver on that mandate.”

“Undeterred, we will continue doing so,” she added.

Reporting By Francesco Canepa; Editing by Gareth Jones

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