ECB ready to tweak QE if needed

Frankfurt

THE European Central Bank (ECB) is ready to adjust its quantitative-easing (QE) programme to respond to any market turbulence amid "unusually low" inflation and "disappointing" economic growth in the euro area.

"While recent market volatility had not materially changed the assessment of the economic outlook, continued elevated uncertainty called for alertness and a readiness to respond, if necessary," the ECB said in a summary account of its July 15-16 monetary-policy meeting. Governors agreed that "the design of the asset-purchase programmes provided sufficient flexibility for them to be adapted if circumstances were to change and should the need arise", according to the report.