Central Banks
ECB Will Probably Increase Pace of QT From July, Villeroy Says
- Bank of France governor says rate hikes still ECB’s main tool
- Villeroy says ECB to review quantitative tightening in June
The European Central Bank.
Photographer: Thomas Lohnes/AFP/Getty Images
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The European Central Bank will likely accelerate the pace at which it offloads government debt accumulated during past crises from July next year as part of its fight against soaring inflation, Governing Council member Francois Villeroy de Galhau said.
The institution on Thursday detailed initial plans for quantitative tightening that will see its Asset Purchase Program portfolio decline by €15 billion ($16 billion) per month on average from March until the end of the second quarter. The pace beyond that hasn’t been determined, it said.