ECB's Villeroy: We should continue to reduce gradually and as appropriate

We should continue to reduce gradually and as appropriate the degree of monetary restriction.
ECB must be attentive to risk of undershooting target.
Market inflation expectations well below the ECB forecasts.
The latest activity data have been somewhat disappointing.
Pace of easing has to be highly pragmatic, we keep our full optionality for the next meetings.
The ECB must be attentive to symmetric risks around the 2% goal.