TOKYO, Nov 25 (Reuters) - The European Central Bank's decision to cut interest rates was motivated by "slow motion" disinflation, not by the view that deflation risks are materialising in the euro area, the bank's executive board member Benoit Coeure said on Monday.

"We did not act because we see deflation risks materialising in the euro area," he said in a forum in Tokyo.

"Rather, we acted because we wanted to keep a sufficient safety margin above zero percent inflation."

With euro zone inflation well below target, the ECB cut interest rates to a record low earlier this month and has made clear it is open to the possibility of taking other steps to bring inflation closer to its desired level.