Germany's top court on Tuesday ruled against the European Central Bank's bond purchases and gave the bank three months to explain how the scheme can be justified. The German Constitutional Court in Karlsruhe said the ECB's EUR 2.1 trillion worth government debt purchases since 2015, were in violation of its mandate and did not take into account the economic and social after-effects.
The court asked ECB to explain why this quantitative easing measure was necessary, and also to check if it was proportional.
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Business News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.