Going back Europe: ECB President Mario Draghi left the rate at 1%. For the one who hoped for a cheaper loan, sorry, that’s not happening. Draghi did leave the door open for an interest rate cut, but that probably won’t happen until after the Greek election on June 17. ECB also announced new economic forecasts. It expects the European economy to contract 0.1% this year as before and lowered its 2013 growth forecast from 1.1% to 1%. Inflation expectation remains at 2.4% for 2012 and 1.6% for 2013. Eurozone unemployment rate already reached 11%, so let’s see if this needed interest rate cut will happen in July.