Mubasher: The European Central Bank (ECB) should reduce its quantitative easing (QE) programme after September despite the stronger euro and global market volatility, German central bank President Jens Weidmann said Thursday.

"Substantial net [asset] purchases beyond the announced amount do not seem to be required" if economic growth "progresses as currently expected," the German official said during a Frankfurt press conference.

The Bundesbank’s top official did not rule out a short extension of QE, but went on to point out that the eurozone's economic recovery might be more advanced than that in that seen in the US when the Federal Reserve wound down its own QE programme in 2014.

ECB officials are currently considering how to phase out their stimulus policies.

The ECB earlier vowed to purchase EUR 30 billion ($37 billion) a month of eurozone bonds at least through September as part of its massive EUR 2.5 trillion bond-buying programme.

Weidmann called on policy makers not to be distracted by the rising euro or the volatility in financial markets, which have seen sharp movements over the past few days on the back of concerns of monetary stimulus reduction by central banks.

"US equity prices rose over a prolonged period without any notable corrections, which was unusual given that valuations have been high overall,” Mr. Weidmann said, stressing that the ECB will closely monitor the exchange rate.

ECB President Mario Draghi has signaled that the programme will not end abruptly.

By 10:24 am GMT, the EUR/USD fell 0.27% to $1.2231.