European Central Bank (ECB) Vice President Vitor Constancio said on Wednesday that the central bank will continue its quantitative easing until the inflation will rise toward the central bank's 2% target.

"Our main policy rates will stay low for a prolonged period of time, in line with our forward guidance and the asset purchase programmes will keep our balance sheet expanding until we see a sustained adjustment in the path of inflation," he said.

Constancio pointed out that the monetary policy should not be used to resolve financial instability in asset markets.