European Central Bank (ECB) Governing Council member Erkki Liikanen said on Friday that the central bank still had tools to boost the economy and inflation in the Eurozone.

"We did what was essential in this situation, but it is clear that the ECB's ability to act has not run out. We have the capability and the tools if needed," he said in an interview.

Liikanen pointed out that the ECB would act until 2% inflation was reached.