Germany's Bundesbank told the Federal Constitutional Court that diverging interest rates in Europe aren't something the European Central Bank needs to resolve, as it criticised the ECB's bond-purchase plan. "Even though monetary policy is having different effects within the euro area, it is questionable whether these differences constitute a malfunctioning to be addressed by monetary policy," according to the German central bank. Berlin expects the court to back a previous ruling in support of the region's rescue mechanism.

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Bloomberg, Reuters

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