ECBs Villeroy
- Too early to say what the final interest rate will be
- Estiamtes of neutral rate at below or close to 2%, we could be there by year-end
- We have to act in a determined but orderly way
- Only beyond the neutral rate would tightening begin if needed
- Not having a forward guidance does not mean we don't have a narrative and strategy
This is a good view of where the ECB is but this is nothing new.
