European Central Bank (ECB) Governing Council member Erkki Liikanen said on Thursday that the central bank could adjust its asset-buying programme if needed.

"The ECB stands ready to take all necessary measures. The monetary policy stimulus can, if necessary, be increased by adjusting the scale, composition or duration of the expanded purchase programme," he said.

Liikanen pointed out that the slowdown in the global economy involves risks for the recovery in the Eurozone, adding that inflation in the Eurozone could rise slower than expected.