European Central Bank (ECB) Vice President Vitor Constancio said before the Committee on Economic and Monetary Affairs of the European Parliament on Thursday that the central bank was doing and would continue to do everything to fulfil its mandate.

He defended the recent monetary policy easing by the ECB.

"In discussing our recent monetary policy measures, it is essential to consider the global environment in which they were taken. This environment was characterised by subdued growth, historically weak trade developments and low inflationary pressures reflecting sharp falls in energy prices," the ECB vice president said.