FRANKFURT (Reuters) - Inflation in the euro zone will probably be negative for most of this year, European Central Bank Executive Board member Peter Praet said on Thursday.
Euro zone inflation showed a reading of minus 0.6 percent in January.
Praet, the ECB's chief economist, added that he had been disappointed by the take-up of long-term loans, or TLTROs, that the ECB began offering banks last year.
Banks took barely more than half the 400 billion euros ($457.20 billion) of the TLTROs on offer last year, prompting the ECB to alter their pricing.
Reporting by John O'Donnell; Writing by Paul Carrel