Germany ‘slaps ECB in face’ to undermine QE in hour of greatest need

Germany's Federal Constitutional Court (BVG) fired a warning shot at the European Central Bank this week. The court’s threat to stop the Bundesbank from taking part in official asset purchasing could have serious consequences for ECB monetary policy and, by extension, bond markets, just when the markets seem to be relying on the central bank more than ever, write Jasper Cox and Lewis McLellan.