The ECB will discuss options to give more support to the euro zone economy and lay out the details for another set of TLTRO lending operations at its meeting next week, ECB policymaker Olli Rehn said.

Rehn said that the ECB is ready to "adjust and use" all its policy instruments if required adding that the timing of any ECB interest rate rise had slipped back.

"Our central scenario is not a recession. We have a soft patch in the economy," Rehn said, adding that the ECB would wait for the next economic forecasts before debating how to adjust its policies.

Rehn said an ample degree of policy stimulus remained appropriate at present.