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MNI BRIEF: ECB Rates Near 2% By Year End: BdF's Villeroy

(MNI) LONDON
(MNI) London

ECB interest rates should reach a neutral interest rate of “below or close to 2 per cent” by the end of the year, Banque de France governor Francois Villeroy de Galhau said in an interview published Tuesday, followed by “a second part of the journey, a more flexible and possibly slower one.”

“I don't say that rate hikes will stop there, but we will have to comprehensively assess the inflation and economic outlook,” Villeroy added, noting that “without excluding a recession, we rather expect at this stage a significant slowdown.”

The euro is trading higher in afternoon trade, back above EUR0.9900 to a session high 0.9923.

MNI London Bureau | +44 20 3983 7894 | luke.heighton@marketnews.com
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MNI London Bureau | +44 20 3983 7894 | luke.heighton@marketnews.com
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