ECB has further ammunition besides rate cuts left: Lautenschlaeger

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May 2, 2016 3:01 PM EDT

Mario Draghi, President of the European Central Bank (ECB) attends the 49th annual meeting of the Asian Development Bank (ADB) in Frankfurt, Germany May 2, 2016. REUTERS/Ralph Orlowski -

LUCERNE, Switzerland (Reuters) - The European Central Bank (ECB) has further policy measures it can take, following President Mario Draghi's comments in March that he did not anticipate further rate cuts, a top official said on Monday.

"There are other instruments of monetary policy still available," Sabine Lautenschlaeger, the ECB Executive Board member responsible for banking supervision, said in Lucerne, Switzerland.

Speaking together with Swiss National Bank Chairman Thomas Jordan and Swiss President Johann Schneider-Ammann at an event, Lautenschlaeger said it remained to be seen what instruments would prove useful.

"I'm in favor of showing patience and waiting for the measures announced in March ... to be implemented and take hold," she said.

(Reporting by Brenna Hughes Neghaiwi; editing by Andrew Roche)


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