DUBLIN (Reuters) - European Central Bank (ECB) governing council member Patrick Honohan on Monday said it was obvious to all that inflation in the euro zone is low and that it has persisted for some time.
The ECB is expected to try to boost inflation closer to its 2 percent target by launching a large-scale sovereign bond-buying programme at a meeting on Thursday, but some ECB board members have voiced reservations.
"It's obvious to everybody and there are no surprises that inflation is low, it's been brought even lower by the oil price decline and in prospect so this situation has persisted for quite some time," said Honohan, governor of the Irish Central Bank.