Central Banking

German parliament approves Bundesbank board cuts

The upper house of the German parliament has approved legislation to allow two seats to be cut from the board of the Deutsche Bundesbank, the country's central bank.

The move reduces the number of seats on the central bank's board from eight to six.

The cuts are the latest moves in efforts initiated five years ago and backed by the bank's president, Axel Weber, to restructure the central bank and streamline its vast operational and organisational structure.

The European Central Bank took over r

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