April 7, 2015 / 3:18 PM / 4 years ago

ECB's Mersch says free to adjust QE programme - newspaper

Yves Mersch, Member of the Executive Board of the European Central Bank presents an oversized newly unveiled 10 euro note at the headquarters of the European Central Bank (ECB) in Frankfurt, January 13, 2014. REUTERS/Ralph Orlowski

FRANKFURT (Reuters) - The European Central Bank would be free to adjust its programme of money printing if it advanced faster than expected towards its goal of lifting inflation, a policymaker told a German newspaper on Tuesday.

“If we were to see that this process brings us to our goal earlier, then we are naturally not so tied to our decisions that we could not adjust things,” said Yves Mersch, who sits on the six-member Executive Board that forms the nucleus of the ECB’s policymaking Governing Council.

Mersch told Germany’s Boersen-Zeitung newspaper that this would apply were the advance towards the inflation goal of just under 2 percent to happen quicker or slower than expected.

“In neither direction are we resistant to reality,” he said.

He also warned against using the exchange rate of the euro as a tool to lift the bloc’s competitiveness, warning that this would breach European Union law.

Reporting By David Milliken and John O'Donnell

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