We need to see sustainable inflation development before policy change - ECB's Makuch

European Central Bank (ECB) Governing Council member Jozef Makuch suggested on Tuesday that they would need to see a sustainable rise in inflation before deciding on a policy change. 

Key quotes (via Reuters)

• Deflation period coming to end, that was reason to lower monthly asset purchases to eur 60 bln from 80 bln
• Buying extension until end-2017 is enough to show we are predictable; if situation changes, we can return to eur 80 bln per month
• There is positive risk from oil price growth; we do not know how long opec reduction will last
• We need to maintain the programme we have and wait to see whether developments will be sustainable