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The European Central Bank (ECB) on Tuesday said that it takes note of the German Federal Constitutional Court’s ruling on the bond-buying programme and added that it remains fully committed to its mandate.

“The Court of Justice of the European Union ruled in December 2018 that the ECB is acting within its price stability mandate,” the ECB further noted. “The Governing Council remains fully committed to doing everything necessary within its mandate to ensure that inflation rises to levels consistent with its medium-term aim.”

Market reaction

The EUR/USD pair largely ignored that statement and was last seen trading at 1.0840i down 0.6% on a daily basis.