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FRANKFURT (Reuters) - Inflation in the euro zone will remain subdued for some time, European Central Bank President Mario Draghi said on Thursday, vowing to keep interest rates low or lower than present levels "for an extended period".
Euro zone inflation fell to 0.7 percent in January, far below the ECB's target of just below 2 percent, fuelling concern that the bloc may slip into deflation.
The interest rate outlook "is based on an overall subdued outlook for inflation extending into the medium term," Draghi said at a news conference that followed the ECB's monthly policy meeting.
(Reporting by Eva Taylor: writing by John Stonestreet; Editing by Jeremy Gaunt/Ruth Pitchford)
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