Rodrigo de Rato, managing director of the International Monetary Fund, Friday gave a cautious outlook on the euro-zone economy, saying economic recovery hasn't been "spectacular." He said he doesn't see inflationary pressures building. Rato's comments to journalists followed a meeting with European Central Bank president Jean-Claude Trichet earlier Friday. They can be interpreted as a sign of caution to the central bank as it considers raising interest rates, although Rato didn't repeat earlier comments that an interest rate hike would be a mistake.