Francois Villeroy de Galhau, Governor of Banque de France, and a Governing Council member at the European Central Bank with comments reported by newswires overnight.
- "It would be desirable to reach the right 'terminal rate' by next summer, but it is too early to say at what level"
- "We need to be pragmatic and guided by observed data, including underlying inflation, without fetishism for increases that are too mechanical"
I posted earlier this week in summary on where the ECB is at. The Bank is in the midst of a rate hike cycle, trying to combat high inflation. Currently we have had +250bp from them and expectations currently centre on another 2 hikes of +50bp to come.
Meetings ahead for H1 2023:
