The European Central Bank's monetary policy will remain expansionary to sustain demand, while growth- friendly fiscal policies in the eurozone could help speed a return to price stability, ECB Governing Council member Ignazio Visco said.

"Eurozone inflation remains at an excessively low level and the risk of a de-anchoring of medium-long term expectations is appearing," Visco, who is governor of the Bank of Italy, said.

In September, euro zone inflation reached 0.8% year-on-year, its slowest pace since 2016.

The ECB last month announced a package of measures that includes restarting bond purchases at a rate of 20 billion euros (£17.26 billion) a month from November.