ECB's QE programme to go beyond September 2016 if needed, meeting minutes reveal

The European Central Bank reiterated that it would consider extending its asset purchase programme if the economic outlook worsened, according to minutes of the 2-3 September policy meeting on Thursday.

During the ECB's last meeting, policymakers noted risks including lower commodity prices, the euro exchange rate appreciation, lower-than-expected economic growth, weak inflation and a slowdown in emerging economies.

The central bank had discussed monitoring these developments closely and taking appropriate action if needed. The Governing Council said particular attention would be paid to the risks stemming from the external environment and possible second-round effects of a lasting fall in oil prices.

"There was also wide agreement for stressing that the monthly asset purchases of €60bn would be fully implemented until the end of September 2016, and beyond, if necessary, and, in any case, until a sustained adjustment in the path of inflation, consistent with the Governing Council’s aim of achieving inflation rates below, but close to, 2% over the medium term, was visible."