ECB ready to begin broad asset purchase program, says VP

(ANSA) - Rome, June 19 - The European Central Bank (ECB) is prepared to launch the purchase of financial assets on a "large scale" as a tool to deal with the risk of deflation, the vice-president of the ECB said Thursday. "The ECB stands ready to undertake a securities purchase program on a large scale to deal with any prolonged period of low inflation," said Constancio. His comments echoed those of ECB President Mario Draghi earlier this month, that the central bank was preparing to launch quantitative easing if that is judged necessary.