(Removes word "else" from Tumpel quote in paragraph 3)
VIENNA, Feb 12 (Reuters) - The European Central Bank has not exhausted its interest rate policy and is considering how to proceed, ECB Executive Board Member Gertrude Tumpel-Gugerell told Austrian state radio station ORF on Thursday.
"We have not exhausted our room to manouevre regarding interest rate policy," Tumpel-Gugerell said in the radio interview with ORF's morning news show.
"We have practically doubled our liquidity measures, and of course are thinking about what we can do," she said.
ORF said she declined to say whether the ECB would cut its main interest rate further at its next meeting in March.
The ECB kept its rates on hold at 2 percent last week after four cuts totalling 225 basis points since October. (Reporting by Boris Groendahl)