Economics
ECB’s Villeroy Says Caution Needed on Monetary, Budget Policy
- Length and intensity of current oil shock remains uncertain
- Currently ‘targeted’ government intervention is best option
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European Central Bank Governing Council member Francois Villeroy de Galhau said uncertainty about the length of the current oil shock and the economic impact of Russia’s invasion of Ukraine mandate a cautious approach to monetary and budgetary policies in Europe.