MILAN: It would be imprudent for the European Central Bank to act on rates before seeing economic data for the second quarter of the year, ECB board member Fabio Panetta told La Stampa daily in an interview on Thursday.

Panetta said that the ECB could resolve to end the negative rates cycle after a decision on when to conclude the asset purchase programme in the third quarter.

Euro gains on ECB rate hike view, Macron optimism

“We (also) need to strengthen European cooperation,” he added when asked about potential ways to counter inflation.