ECB keeps QE total unchanged, promises more if necessary

FRANKFURT (Reuters) - The European Central Bank said on Thursday it was holding its 60 billion euro a month asset purchase limit unchanged, but raised the amount of any one issue it could buy to 33 percent from 25 percent.

It said inflation was not rising as quickly as it had planned and that the euro zone economy was not recovering at the pace expected.

"The risks to the euro area growth outlook remain on the downside reflecting in particular the heightened uncertainties related to the external environment. Notably current developments in emerging market economies have the potential to further affect global growth adversely via trade and confidence effects," ECB President Mario Draghi said.

He also repeated a pledge to change the program if necessary.

"The Governing Council will closely monitor all relevant incoming information. It emphasized its willingness and ability to act if warranted by using all the instruments available within its mandate and in particular recalls that the asset purchase program provides sufficient flexibility in terms of adjusting the size, composition and duration of the program," Draghi told a news conference.

The ECB has been buying 60 billion euros ($67.70 billion)worth of assets, mostly government bonds, each month since March and plans to continue doing so at least until September 2016 in a bid to bring inflation back to its target of near 2 percent.

(Reporting By Francesco Canepa Editing by Jeremy Gaunt)

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