February 5, 2015 / 12:22 PM / 3 years ago

ECB's Praet see negative inflation for most of this year

European Central Bank Executive Board member Peter Praet speaks during a meeting organised by The Economist in Cascais February 18, 2014. REUTERS/Rafael Marchante

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

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