ECB ready to act if inflation outlook changes materially: Constancio

MANNHEIM, Germany (Reuters) - The European Central Bank is confident that its asset purchases will lift inflation back to its target but stands ready to take additional measures in case of a material change in the inflation outlook, the bank's vice president said on Monday.

"I am confident that full implementation of the private and public sector asset purchase programs, as announced, will lead to a sustained return of inflation rates towards levels consistent with our definition of price stability," Vitor Constancio told a conference.

"As always, the Governing Council stands ready to use all the instruments available within its mandate to respond to any material change to the outlook for price stability," Constancio added.

The ECB is buying 60 billion euros worth of assets each month as part of its quantitative easing program to lift inflation back to its target of just under 2 percent.

(Reporting by John O'Donnell and Francesco Canepa; Writing by Balazs Koranyi; Editing by Janet Lawrence)

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