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MNI BRIEF:ECB Villeroy-Perseverance Key Virtue To Transmission

(MNI) Brussels
(MNI) London

Perseverance to ensure the full transmission of the ECB’s interest rate policy is now “the key virtue” for policymakers, Bank of France Governor Francois Villeroy said Friday, with future Governing Council decisions to be entirely guided by scrutiny of the incoming data.

“Given the time needed for this full transmission, perseverance is now the first key virtue. The second is pragmatism: our decisions at future meetings will now be open, and will be entirely guided by future economic data…”

Commenting on French inflation data out this morning, Villeroy said it confirmed the analysis of the BdF, which show "the French economy is on the way to a gradual exit from inflation, without recession."

MNI Brussels Bureau |
MNI Brussels Bureau |

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