QE beyond Sep 2016 if necessary says Draghi (2)

(ANSA) - Rome, September 3 - The bond buying of quantitative easing "is planned until September 2016 or even longer if necessary," ECB chief Mario Draghi said Thursday, stressing the need to fully implement the asset-buying programme.
    The ECB has decided to increase the share limit on its public-sector purchase programme from 25% to 33%, Draghi said. That means the ECB could buy more of a single asset, addressing fears that it might run out of bonds to buy.
    The economic recovery will continue but at a slower rate than previously forecast, he said.
    The ECB lowered its growth and inflation forecasts.
    It lowered its growth forecasts for the eurozone from +1.5% to +1.4% for this year and from 1.9% to 1.7% for next. And lowered its eurozone inflation forecasts from 0.3% to 0.1% for this year, from 1.5% to 1.1% for 2016 and from 1.8% to 1.7% for 2017.
    Draghi said that "we could see negative numbers for inflation in the next few months but the ECB considers them transient because of low oil prices".
    Draghi said that "available information indicates a slower increase in inflation compared to previous forecasts." He said it was still "premature", however, to say whether developments in oil prices "will have a lasting impact on prices".
    The ECB is "ready to use all available instruments within its mandate" to address changes in inflation prospects, Draghi said.
    Thursday was Draghi's 68th birthday.