The European Central Bank (ECB) President Mario Draghi said in Milan on Thursday that the central bank will decide in December if to expand the asset-buying programme or not.

"We need to examine whether, with a weakening of the global economy, it (the programme) is also effective in countering headwinds that could hamper a return to price stability in the medium term," he said.

Draghi added that if the decision regarding further stimulus is made, than the ECB will discuss what kind of stimulus measures should be implemented.