Euro zone deflation risks balanced, ECB's Kazimir says

FILE PHOTO: Slovakia's Finance Minister Peter Kazimir attends the European Bank for Reconstruction and Development (EBRD) 2017 Annual Meeting and Business Forum in Nicosia, Cyprus May 10,2017. REUTERS/Yiannis Kourtoglou

BRATISLAVA (Reuters) - The risk of deflation in the euro zone is balanced but it is better for the European Central Bank to act preventively than to face a costly recovery, ECB Governing Council member Peter Kazimir said on Wednesday.

Kazimir added that easy monetary policy was likely to stay for an extended period, especially as the coronavirus pandemic has brought about a period of extraordinary volatility.

Reporting by Robert Muller; Writing by Balazs Koranyi; Editing by Gareth Jones