Bank of France Governor and ECB Governing Council member Francois Villeroy de Galhau speaking as the BdF publish forecasts ahead:

  • sees full-year 2024 growth of 0.8% (previously at 0.9%)
  • sees 2024 HIPC inflation of 2.5%, 1.7% in 2025 and 2026


  • There’s broad agreement at the European Central Bank to begin lowering interest in the spring as the battle against inflation is being won
  • ECB can cut rates independent of the Fed
  • ECB can be pragmatic on rate policy
ECB's Villeroy
ECB's Villeroy