FRANKFURT (Reuters) - It is too early to say whether negative factors such a slowdown in emerging market economies will derail the long-term path of inflation in the euro zone, a European Central Bank executive board member said on Tuesday.
Echoing comments from many of his colleagues in recent weeks, Yves Mersch said it would take longer than previously expected for inflation to return to the ECB's target of almost 2 percent, owing mainly to slower EM growth, a stronger euro and a fall in commodity prices.
"It is too early to judge whether these factors will cause lasting changes to the trajectory that the ECB expected inflation to follow," Mersch said in remarks prepared for a speech to be delivered in Singapore.
"Should more monetary policy impulse become necessary, the ECB is determined to use all available instruments to achieve its mandate over the medium term."
