ECB's Villeroy speaking

  • Inflation target will be central in review
  • Inflation objective needs to be symmetrical, flexible
  • Economic stabilization justifies stable rates
  • We must say how far and over, what time horizon inflation can deviate from the target
  • Our inflation target must be credible not only vis-à-vis financial markets but also households and companies
  • If current stabilization of economic situation is confirmed, a stabilization of monetary policy should follow
  • It is neither likely nor desirable that negative interest rates be applied to individuals