European Central Bank (ECB) Governing Council member Francois Villeroy de Galhau reiterated on Monday that the ECB stands ready to do what it takes to get inflation back down below 2%, as reported by Reuters.

"We need to progressively normalise the monetary policy," Villeroy further added.

Market reaction

These comments don't seem to be having a noticeable impact on the shared currency's performance against its major rivals. As of writing, the EUR/USD pair was trading at 1.1328, where it was down 0.12% on a daily basis.