ECB Has Completed Most of Its Rate-Hike Path, Villeroy Says

The European Central Bank has completed most of its interest rate increases, and possible further hikes would be less important in fighting inflation than the duration of tight monetary policy, Bank of France Governor Francois Villeroy de Galhau said.

“We have done most of the path,” Villeroy said in an interview with French newspaper Les Echos. “Our rates are now tending toward their asymptote, and any additional increases will depend on the inflation data observed — everything in its own time, and every decision in its time.”