Thomson Financial News - The current annual inflation rate in the euro zone of 3.7 percent in May is unacceptably high. This is cause for alarm and for heightened alertness. Inflation could remain high for a protracted period and before eventually declining gradually. Given the price dynamics and the continuing, if not increased, risks to price stability, along with clear declines in real interest rates, I consider it advisable to review the appropriateness of the current level of leading interest rates.