The European Central Bank will consider a cut to its deposit rate and changes to its asset purchase programme to achieve its inflation target, ECB governing council member Ignazio Visco said on Wednesday.
"The appropriate degree of monetary accommodation has to be maintained to fulfil our mandate," Visco said in remarks prepared for a speech to be delivered in London.
"This may imply, as it has been stated, a change in the size, composition and duration of the APP (Asset Purchase Programme). The possibility to once again lower the interest rate on the deposit facility will also be assessed."
He added the introduction of negative interest rates in the region has been smooth and other countries seem not to have experienced difficulties in pushing rates further into negative territory.