BRATISLAVA: The European Central Bank's decision to extend its asset-buying programme until the end of the next year while reducing it to 60 billion euros per month, from 80 billion, is enough for the time being, governing council member Jozef Makuch said on Tuesday.
"It is a sufficient period for us to show that forward guidance works, that we are predictable enough... It is not a problem if the situation changes to decide on other technical adjustments of the programme if needed," Makuch told a news conference.
"It has been signalled that we can return to the 80 billion per month volume if needed." He said inflation was coming to positive figures and would be nearing the target, even though the bank's forecast for 1.7 percent inflation in 2019 was not on target yet.
Makuch said there was an upside inflation risk from oil prices but added it was not clear how long OPEC's output reduction would last.
Also, oil stocks first need to be reduced for the decision to show its full effect, he said.
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