European Central Bank policy setters were told in September that uncertainty in emerging markets, such as China, would slow the euro zone economy although it was too early to assess the severity of the impact, according to minutes of their meeting.
In the report about the gathering on September 2 and 3, the ECB's chief economist, Peter Praet, warned that emerging market difficulties were clouding the globe's economic outlook and that this was unlikely to change soon.
"Although it was still premature to conclude whether these developments could have a lasting impact on euro area output and ... inflation, downside risks had intensified," the minutes said, reflecting Praet's remarks.
"Challenges facing emerging market economies were clouding the global outlook and were unlikely to recede quickly," it said.
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