European Central Bank president Jean-Claude Trichet said he expects growth in the euro zone to remain subdued due to high oil prices that weigh on demand. In the second quarter, growth is expected to be below the 0.5 pct recorded in the first quarter, Trichet told the ECB's monthly news conference. He said available data is mixed, with some indicators showing a slight improvement, but there are "no signs as yet that a more sustained recovery in economic activity has already started," he said. Trichet said the outlook for growth continues to be "surrounded by a good deal of uncertainty", adding risks to growth lie "on the downside" due to stubbornly high oil prices, low confidence in the euro area and global imbalances. Following the ECB's decision to keep its key rates unchanged, Trichet said the ECB's interest rates are appropriate given current inflationary outlook, adding low levels of interest rates support euro zone growth. "The governing council will continue to monitor carefully all factors that might affect this assessment and remains vigilant in respect to the emergence of risks to price stability over the medium term," he said. The rate of inflation may not fall below 2 pct this year due to high oil prices, he said. But the ECB continues to see "no significant evidence" of underlying domestic inflationary pressure building up in the euro area, Trichet said. He added upside risks "warrant close monitoring". Commenting on the explosions that rocked central London earlier today, he expressed the governing council's deep sympathy and total solidarity with the British people in "these dreadful circumstances".