A senior European Central Bank official hinted that the bank may have to intervene with a further interest rate cut if the euro continues its strong gains and its impact begins to extend to inflation expectations within the eurozone.
Martin Kocher , governor of the Austrian central bank and a member of the European Central Bank's Governing Council, said that the recent rises in the value of the single currency are not an immediate cause for concern, but could turn into a factor of pressure on monetary policy if they continue at a stronger pace.