The Chairman of the ECB, Jean-Claude Trichet today came out speaking saying that the current interest rates of 1.00% are appropriate. Trichet says that the conditions are stabilizing in the economy while exports are helping the euro zone prosper as a recovery may be uneven.
Concerning inflation, they are to leave the negative territory while prices are pressured from the ongoing economic recession yet are inline with the central bank expectations.
Also, Trichet says the weakness in the labor market may be less than the projected estimated while overseas demand might be more vigorous than previously initiated. The higher productivity from companies while helping businesses expand, will work as factors to shore up economic growth in the euro zone, of course also when bank's balance sheets are fixed, will all help in the economic recovery.