Villeroy Says Optionality Is The Key Word For The ECB

From the Bloomberg report:

• European Central Bank policy maker Francois Villeroy de Galhau is set to caution against predicting when interest rates will be raised after investors and analysts accelerated predictions for hikes in the coming months.
• While the ECB is clearly sticking to its sequencing, it has “full optionality” about the pace and the “timing of moving from one stage to the other.”
• “While the direction of the journey is clear, one shouldn’t rush to conclusions about its calendar,” the Bank of France governor will say. “It will remain gradual, state dependent, and open in each of its steps.”