- European Central Bank (ECB) Governing Council member Villeroy de Galhau: I still believe gradual normalization of our policy is desirable
Market news
22 February 2019
European Central Bank (ECB) Governing Council member Villeroy de Galhau: I still believe gradual normalization of our policy is desirable
- We need to assess the extent to which the recent slowdown and drop in inflation are temporary
- If downturn persists, ECB stands ready to change guidance
- We should look at a whole spectrum of tools including various forms of LTRO to decide on recalibration of conditions and maturities
- If we had to use negative rates for longer than expected, we should study pragmatically how to contain possible adverse effects
- On TLTRO, policy shouldn't be designed according to the needs of some banks or jurisdictions
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