Bland comments from the Bank of France governor
When you miss the inflation target for six years running with little hope of hitting it through 2021, who exactly is being held accountable?
More:
- We should look at a whole spectrum of tools including various forms of LTRO to decide on recalibration of conditions and maturities
- If we had to use negative rates for longer than expected, we should study pragmatically how to contain possible adverse effects
- On TLTRO, policy shouldn't be designed according to needs of some banks or jurisdictions
- I still believe gradual normalization of our policy is desirable
"Desirable" isn't exactly a forecast and he's talking about negative rates for longer. It's starting to look like we will be at the same rates at this time next year.
