July could be the month in which the European Central Bank could open to a rise in interest rates. Thus the vice president of the bank Luis de Guindos that that month the Frankfurt institution should be able to phase out asset purchases. Any decision will depend on the ECB’s economic forecast at its next policy meeting in June, although it is already “crystal clear” that higher inflation and lower growth will be part of the mix, Guindos said in an interview with Bloomberg. “I see no reason why we shouldn’t stop our asset purchase program in July,” Guindos said. “For the first rate hike we will have to see our projections, the different scenarios”, but “from today’s perspective, July is possible and also September, or later. We will look at the data and only then will we decide”.