“Window” for a first rate cut in June left the president of the ECB, Christine Lagardereiterating that in this particular period we will have enough data regarding the course of the economy and inflation in the eurozone.

“We are determined to ensure that inflation returns in time to the medium-term target of 2%” stressed Christine Lagarde at the press conference after the ECB announced to keep interest rates unchanged.

The interest rate on the main refinancing operations as well as the interest rates on the marginal financing facility and the deposit acceptance facility will remain unchanged at 4.50%, 4.75% and 4.00% respectively, announced earlier.

“The economy remains weak” warned the president of the ECB. However, he emphasized that “the recovery will be supported by the increase in real incomes, while exports will increase in the coming quarters.

As he also mentioned, price pressures are gradually decreasing. “Inflation will fluctuate around current levels in the coming months,” noted the ECB president.

“Inflation will then decrease to the target next year,” he added, speaking to reduce risks to development.

Inflation in the Eurozone has slowed significantly to 2.4% in March from 2.6% the previous month, approaching the 2% target set.

Invited to comment the Fed’s interest rate policy Christine Lagarde also noted that the ECB is solely concerned with the eurozone economy when making its decisions, and remains true to its core role of maintaining price stability.