ECB working intensively to expand toolkit -Mersch

BERLIN Wed May 14, 2014 5:51am EDT

BERLIN May 14 (Reuters) - The European Central Bank is getting ready to take a decision on fresh policy action next month, ECB Executive Board member Yves Mersch said on Wednesday, hinting at some degree of consensus on some measures.

ECB President Mario Draghi said last week the Governing Council was "comfortable with acting next time" - its June 5 policy meeting - but wanted to see updated economic projections from the bank's staff first.

Speaking at a panel discussion at a conference, Mersch said Draghi's comments could be interpreted as what his predecessor Jean-Claude Trichet would have expressed by using the term "strong vigilance".

"What exactly will happen is a decision that will be taken at the next council (meeting). There are several possibilities," Mersch said, adding that some were easier to implement than others and that there was perhaps already theoretical unanimity on various tools.

"We are working intensively to expand our independent instruments within our mandate and to make our action as effective as possible".

"We never precommit unconditionally," he added. (Reporting by Annika Breidthardt, writing by Eva Taylor)

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