"We are convinced that disputes should be discussed and resolved in a multilateral framework", he said, warning that "unilateral decisions are dangerous".
The ECB President Mario Draghi said a year ago that the bank had defeated the threat of deflation.
The ECB is expected to call time on buying new bonds under the QE programme by the end of this year, but it is also expected to maintain interest rates at record lows "well past the horizon of the net asset purchases".
The observers believe that the European Central Bank is on its way out of its stimulus program after deciding to halve the purchase of state and corporate debt to 30 billion Euro per month since January. So, dropping the easing bias is actually "backward-looking", he said.
Bond markets were also broadly steady with US Treasuries stuck at 2.88 per cent and Germany's benchmark 10-year bond yield barely budged at 0.66 per cent having hit a five-week low of 0.60 per cent on Monday.
Latvia's parliament on Thursday urged longtime central bank chief Ilmars Rimsevics to step down after anti-corruption authorities accused him of bribe-taking.
Projections for next year and 2020 were kept unchanged at 1.9 percent and 1.7 percent, respectively. Anglo American and Rio Tinto were down 2.9 per cent and 1.2 per cent respectively as U.S. trade tensions overshadowed strong February export data from China.
Daisuke Karakama, chief market economist at Mizuho Bank in Tokyo, said that while the currency market is hard to predict, the dollar "will nearly certainly weaken" if that's what the United States wants to happen. The central bank promises to keep interest rates stable until it stops buying assets.
Elsewhere, the U.S. healthcare sector was rattled as health insurer Cigna Corp said it would buy pharmacy benefits manager Express Scripts Holding Co for about $54bn. Needless to say, the absence of such a "carve-out" might have the opposite effect, although a wait-and-see approach may prevail following rumor-mill reports that all countries will have a 15-day window to negotiate a reprieve.
"In this context, the Governing Council will continue to monitor developments in the exchange rate and financial conditions with regard to their possible implications for the inflation outlook", Draghi said.
To sum up, a cross-check of the outcome of the economic analysis with the signals coming from the monetary analysis confirmed the need for an ample degree of monetary accommodation to secure a sustained return of inflation rates toward levels that are below, but close to, 2 percent over the medium term.
The leader of Italy's anti-establishment 5-Star Movement said on Friday his party was preparing economic policy proposals for other parties as a way of finding common ground to form a government.
"We don't have enough information and that's why today we are sending a letter to the European Court of Justice".