ECB's Villeroy says rate increases would depend on economic situation
Further comments by ECB governing council member Francois Villeroy de Galhau
- Rate increases would be extremely gradual
There's a growing belief in the market that the ECB has missed the boat when it comes to normalising monetary policy. And with economic growth conditions in Q4 likely to persist into this year, it certainly suggests that the naysayers have it right on this one.