ECB's De Guindos: Risks are tilted to downside, if they start to materialize, we will react

While speaking in an interview with CNBC, European Central Bank (ECB) Vice President noted that risks surrounding the euro area are tilted to the downside and said that they will react if they start to materialize to echo President Draghi's comments from Tuesday.

"The ECB could opt for a “combination of actions” to restore inflation," De Guindos added. "The ECB has a wide range of instruments - forward guidance, LTTRO, reinvestment of the maturities of our balance sheets — so there is an ample range of instruments that we could use, and QE is a part of them."

Commenting on the U.S.-China trade conflict, De Guindos said that it would be good news for everyone if they were to reach an agreement.