Vitor Constancio

The European Central Bank, meeting in Cyprus on Thursday, is set to update its economic forecasts and reveal details of its new bond purchase programme, analysts said.

Greece will also be high on the agenda of the ECB's decision-making governing council, following the recent eurozone deal to extend aid to the debt-wracked country, the experts said.

Stoyan Mavrodiev, Chair of Bulgaria's Financial Supervision Commission (FSC), met with Vitor Constancio, Vice-President of the European Central Bank (ECB) during a working visit to Frankfurt.

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European Central Bank Vice President Vitor Constancio said 1 trillion euros of asset-backed securities and covered bonds are eligible for the institution’s purchase program.

“The overall purchasable amount of ABS and covered bonds is sufficient to ensure that asset purchases can be carried out on a large scale,” Constancio said in Frankfurt on Wednesday.

The European Central Bank is embarking on a new policy phase with its latest stimulus measures, ECB Vice President Vitor Constancio said, promising to steer the central bank's balance sheet "significantly higher".

European Central Bank Vice President Vitor Constancio signaled that large-scale asset purchases are the next step policy makers are prepared to take if the inflation outlook worsens.

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Mario Draghi will confront the threat of deflation this week as he prepares to unleash an array of measures to jolt the economy and ignite prices.

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European Central Bank President Mario Draghi signaled policy makers are ready to take action in June should they see low inflation becoming entrenched.

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European Central Bank Vice President Vitor Constancio said lenders in the region are reducing the risk of failing a balance-sheet review by taking pre-emptive steps to increase capital ratios.