European Central Bank Governing Council member and Bank of France head Francois Villeroy de Galhau noted on Friday that while the direction of Eurozone monetary policy is clear, one shouldn't rush to conclusions about timing. Reffering to Thursday's monetary policy decision, Villeroy said that the ECB retains full optionality on the decision that will be made in March and in the following quarters. We will stick to our sequencing,  he added, noting that QE tapering will come first ahead of rate lift-off. 

Market Reaction

The euro has not seen any reaction to Villeroy's latest remarks.