Current euro zone interest rates are "adequate" and "appropriate," European Central Bank board member Jose Manuel Gonzalez Paramo told La Gaceta de los Negocios in an interview. Asked whether the ECB was preparing to cut rates, Gonzalez Paramo said: "In this I must be very clear; interest rates are adequate. Rates are appro priate for the current situation." "The ECB is in a position of 'wait and see'," he said, adding that a reduction in rates is not part of a central discussion in the Bank, and "if we conclude that rates are adequate it is because, with the information that we have that day, they are." On inflation, Gonzalez Paramo said that price stability is never guaranteed, noting that "risks are on the upside, due to oil prices ... and in the long term from indirect taxes and administrative costs, of monetary aggregates."