ECB’s Villeroy: We keep our full optionality for our next meetings

Market news

13 September 2024

ECB’s Villeroy: We keep our full optionality for our next meetings

European Central Bank (ECB) Governing Council member and Bank of France President, Francois Villeroy de Galhau, commented on the interest rate outlook on Friday.

Key quotes

On activity, the latest data have been somewhat disappointing.

Sees very gradual recovery in France beyond one-off olympics stimulus.

We should continue to reduce gradually and as appropriate degree of monetary restriction.

Pace has to be highly pragmatic, we keep our full optionality for our next meetings.

Market reaction

EUR/USD shrugs off the ECB-speak to trade modestly flat at 1.1075, as of writing.

EUR/GBP trades around 0.8450 after paring losses, assessing ECB policymakers' comments

Forex Today: US Dollar slides as markets reassess odds of large Fed rate cut

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