Bank of France Market News

The Banque de France has been at the forefront of the euro project since its modern inception, and the country has provided two European Central Bank presidents and one vice-president in the institution's short history. Current governor François Villeroy de Galhau has been in post since 2015, and is a prominent member of the ECB's Governing Council. Under his watch, the French central bank has led the way with efforts to green the financial system; an outlook reflected in the 'constitutional' framework adopted by the ECB in 2021. Similarly, Villeroy was an early advocate of formally adopting a symmetrical 2% inflation target while stressing the ECB's willingness to tolerate moderate, temporary overshoots. He is a strong supporter of the ECB's asset purchase programmes, and has stressed financial stability's role in ensuring effective monetary policy transmission.