ECB Is Confident It Will Get Inflation Toward 2% by 2025, Villeroy Says

The European Central Bank is confident inflation will return toward its 2% target by 2025 after raising interest rates at a record pace, Bank of France Governor Francois Villeroy de Galhau said.

“Faced with surging inflation we saw last year, the ECB raised its key interest rates quickly,” the Governing Council member said at France’s State Council. “The remedy is not always pleasant, but it is effective: Inflation is now falling, to 2.9% in October, and we are confident that we will return it to the 2% target by 2025 in France as in Europe.”