Top ECB Executive Thrust Back Against Stimulus Criticism

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Source:   —  April 07, 2016, at 1:08 PM

ECB executive council member Benoit Coeure said Thursday that "we've to act" to lift inflation toward the bank'south goal of just under two percent.

Top executive of the European Central Bank are pushing back against criticism of their stimulus efforts from some politicians in Germany.

ECB executive council member Benoit Coeure said Thursday that "we've to act" to lift inflation toward the bank'south goal of just under two percent.

Coeure reminded of the bank'south independent status and said that "this is country where our independence should be upheld."

The ECB recently stepped up its injections of newly created money into the economy through bond purchases in an effort to raise inflation.

Conservative German legislators have reportedly criticized the bank'south efforts as exceeding its powers and lowering interest returns for savers and pension programs. Finance Minister Wolfgang Schaueble was quoted as saying this week that ECB policy was "less favorable" for Germany.

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