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ECB Patience Endures as Villeroy Awaits Change of Season

  • Officials endorse gradually adapting tools as economy improves
  • French governor says next adjustment likely to come in autumn
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ECB's Villeroy Sees Fall as Time to Adopt Stimulus Plan

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European Central Bank policy makers aren’t showing much of a rush to start tweaking their monetary policy as they count the days until their summer holidays.

The Governing Council is likely to decide on the next change in its stimulus settings in the fall, according to comments on Saturday from Francois Villeroy de Galhau, the Bank of France governor. ECB Chief Economist Peter Praet, speaking in a newspaper interview released the same day, insisted that “we still need a long period of accommodative policy.”