LJUBLJANA (Reuters) - The European Central Bank’s quantitative easing program could end before September 2016, Governing Council member Bostjan Jazbec said in an interview published on the website of the Wall Street Journal (WSJ) on Thursday.
“I understand it this way ...Once the price mandate is fulfilled, we can end it earlier,” Jazbec, who is also the governor of the Bank of Slovenia, told the paper.
The ECB had said it would buy 60 billion euros ($68.51 billion) of assets that include government bonds each month from March this year until September 2016 in order to bring euro zone inflation to just under 2 percent.
ECB’s governing council member Bonoit Coeure said on Monday the ECB would do more if inflation is not on track to hit the target by September 2016.
Jazbec has said that quantitative easing would have a positive effect on the euro zone economy, providing governments pursued structural reforms.
He told WSJ that discussion with Greece was ongoing and that there “there’s still time to find the solution that would not compromise the efforts of all other countries that … fully committed to respect their obligations and of course the reality of the situation that Greece currently face[s],”
His comments were made before the ECB decided late on Wednesday to cancel its acceptance of junk-rated Greek government bonds as collateral for cheap ECB financing.
Reporting By Marja Novak; Editing by Toby Chopra