ECB's Gonzalez-Paramo sees euro zone growth intact despite rising interest rates

The European Central Bank still sees growth in the euro zone intact despite prospects of further interest rate increases, ECB executive board member Jose Manuel Gonzalez-Paramo said.
"I don't see the risk," Gonzalez-Paramo said, in response to questions whether further rate increases in the euro zone will dampen growth.
"We don't (predict) any sequence of rate hikes but at this moment we are vigilant to the risk of price stability," he said when asked whether current interest rates are sufficient to stave off inflation.
"We have a mandate and our primary goal is to preserve price stability, to stabilize price (increases) in the medium term to below 2.0 pct or close to 2.0 pct."
Despite easing crude prices, he said oil costs continue to represent a risk.