Member of the Executive Board of the ECB Sabina Lautenshleger said that the ECB should see stabilization of inflation close to the target value "a little less than 2 percent" before interest rates can be increased. Meanwhile, it is hoped that the ECB's bond-buying program will be cut before the end of this year.

Consumer prices in the eurozone rose by 1.8 per cent per annum in January, reaching the highest level since February 2013, according to Eurostat estimates. Recall that in December, prices increased by 1.1 per cent per annum.

"I am very pleased to say that we are close to our inflation target," a little less than 2 percent. "But for me it is important that it is not a temporary phenomenon. In January, we do not know for sure. In December, it was pretty part due to energy prices and the so-called base effect, so it is very important to make sure that there is a trend, and inflation is actually returned to its target level ", -. Lautenshleger added.