ECB still has to fight inflation-Villeroy
2022.12.16 03:24
[ad_1]
ECB still has to fight inflation-Villeroy
Budrigannews.com – Francois Villeroy de Galhau, a member of the European Central Bank (ECB) and head of the Bank of France, stated on Friday that the fight against inflation was not over and that it should reach its peak in the first half of 2023 before easing.
Villeroy stated on BFM Business radio, “We finished the first half (of the match), but the match is not over.”
He continued, “We are committed to returning inflation to 2% by the end of 2024 or the end of 2025.”
Villeroy reiterated that the European economy should avoid a hard landing next year and that inflation should reach a peak sometime in the first half of 2023 before falling.
More South Korea Pension Fund Increases Hedging Limit
As part of a determined fight against runaway inflation, the European Central Bank (ECB) slowed down the pace of its interest rate hikes on Thursday but emphasized that significant tightening was still to come. It also announced plans to remove cash from the financial system.
The European Central Bank (ECB) increased the interest rate it charges on bank deposits by 50 basis points to 2%, following similar actions this week by the U.S. Federal Reserve and the Bank of England.
