European Central Bank President Christine Lagarde suggested in a speech that interest rates in the euro zone may need to be raised further, as there is no clear evidence that core inflation has peaked. This comes after data showed inflation in the 20-nation euro zone slowed last month, but Lagarde believes there is still ground to cover to bring interest rates to sufficiently restrictive levels. The ECB is likely to increase interest rates at least one more time to ensure the 2% inflation target is reached. Meanwhile, in the US, the FOMC will meet in June to decide on further interest rate hikes.