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The ECB mustn't politicise monetary policy: Bundesbank chief

The European Central Bank must stick to its price stability mandate and not be swayed by politics, Germany's top central banker saysThe European Central Bank must stick to its price stability mandate and not be swayed by politics, Germany’s top central banker said Friday, warning against extending loose monetary policy for too long. “The impression must not be allowed to arise that central banks will step into the breach for politicians or that monetary policy is directed by electoral results,” Bundesbank head Jens Weidmann said in a Frankfurt speech. Weidmann is a long-standing critic of the ECB’s quantitative easing programme, under which it buys tens of billions of euros of government and corporate bonds each month to pump cash into the economy.

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