- ECB’s Villeroy: Engaged in bringing down inflation to 2% aim in “two to three years” from now
Market news
10 October 2022
ECB’s Villeroy: Engaged in bringing down inflation to 2% aim in “two to three years” from now
European Central Bank (ECB) policymaker and the Bank of France head Francois Villeroy de Galhau expressed his take on the bloc’s inflation outlook while speaking on France Culture radio on Monday.
Key quotes
“ECB engaged in bringing down inflation to 2 pct aim in "two to three years" from now.”
“Right inflation target is around 2%.”
“We are far from reaching the 2% aim in eurozone.”
“Monetary policy measures take time before having a full effect, which is why it will take 2 to 3 years to bring inflation back down to target.”
“Inflation expectations are key, but it is positive they still are close to our target.”
Market reaction
EUR/USD is shrugging off the above comments, down 0.18% on the day at 0.9722, as of writing.
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