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“Our authorisations respect and are consistent with the independence of the European Central Bank (ECB) and the Deutsche Bundesbank,” European Central Bank Executive board member Yves Mersch said on Thursday.

“The ECB’s Governing Council constantly evaluates the potential side effects of its monetary policy measures, including the Public Sector Purchase Programme (PSPP),” Mersch added. “I trust that my German colleagues share the spirit of European cooperation.”

Market reaction

The EUR/USD pair largely ignored these comments and was last seen trading at 1.1262, up 0.12% on a daily basis.