CERNOBBIO, Italy, April 4 The European Central
Bank did not discuss details of how it might implement
quantitative easing in the euro zone at Thursday's Governing
Council meeting, ECB Vice President Vitor Constancio said on
Constancio said the main achievement of the meeting was to
build unanimity that asset purchases could be considered if
inflation stays below 1 percent, and that key details - such as
whether the ECB would buy government bonds - were not broached.
"We did not discuss details, because that was not the
environment to do it," he told broadcaster CNBC.
"We will see how it goes and ... if indeed we will have to
use all those instruments," he added when asked about government
Government bond purchases were the mainstay of quantitative
easing by the U.S. Federal Reserve and the Bank of England, but
some ECB policymakers are wary of having to choose between the
government debt of different euro zone member states, and would
prefer to buy private-sector assets instead.
Constancio also said June's ECB staff economic projections
would be the key to determining whether March's unexpectedly low
inflation reading of 0.5 percent had reduced the chance of
inflation returning to its medium-term target of 2 percent over
the next 2-1/2 years.
(Reporting by Francesca Landini, writing by David Milliken and