April 22 (AP)-- Francois Villeroy de Galhau, a member of the European Central Bank's management committee and governor of the Bank of France, said it would not be due to oil prices.BesthonestlivedealerbaccaratThe first interest rate cut in June was shaken by uncertaintyBesthonestlivedealerbaccaratDonovan's decision.

Even if the conflict in the Middle East does push up oil prices, policymakers must first analyze whether the shock will push up base prices and inflation expectations, Mr Valerua said.

Asked whether uncertainty would delay the start of monetary easing, he said "no". "unless something unexpected happens, we can't wait too long [to cut interest rates]."

Valerua also pointed out, "from this point of view, we are confident enough to achieve the 2% inflation target next year, and our duty is to minimize the costs of economic activity and employment."

Mr Valerua has long been adamant that interest rate cuts will continue for the first time in June. Earlier this month, he pointed out that unless there was a major shock, the ECB would cut interest rates in June, adding that after the June meeting, further rate cuts would be necessary this year and next, and that the pace of rate cuts would depend on economic data.

And more ECB officials see the June 6th interest rate decision-making meeting as an opportunity to lower borrowing costs for the first time.

However, Mr Valerua's hawkish colleagues have expressed varying degrees of concern, with some saying the possibility is only growing, not certain that it will happen.

Last week, Robert Holzmann, a hawk on the ECB's board, pointed out that if the Fed delays monetary easing this year because of high inflation, the ECB's policy decisions will be affected, the likelihood of three or four interest rate cuts this year will be weakened, and the first cut in June needs to be cautious.

And even if things become more certain in June, the ECB's course since then is less clear because interest rate makers are divided over the extent to which they have promised to ease.

Valerua said that the policy direction would be adjusted at a "pragmatic pace" in the future. "if external shocks pose a threat to the anti-inflationary process, then we will always be able to adjust it," Mr Valerua said. "