Bundesbank's Weidmann defends ECB from critics

April 29, 2016 9:19 AM

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MUNICH, April 29 The head of Germany's Bundesbank defended the European Central Bank from critics within his own country on Friday, saying a central bank's job is not to guarantee savers' returns but to achieve its inflation target.

"(Central banks) cannot promise minimum returns for savers because they must focus on the broader economic impact of their monetary policy," Weidmann told an audience in Munich.

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