Central Banks
ECB Will Be Patient Before Cutting Interest Rates, Villeroy Says
- Data, not calendar, are guiding ECB, French official says
- Remarks follow Thursday’s decision to leave rates unchanged
Francois Villeroy de Galhau
Photographer: Anna Rose Layden/BloombergThis article is for subscribers only.
The European Central Bank’s next move will be an interest-rate cut, but it will be patient and guided by data rather than markets or specific dates, according to Governing Council member Francois Villeroy de Galhau.
“Barring shocks or surprises, rate hikes are over — but that doesn’t mean a quick rate cut,” Villeroy said Friday in an Ecorama radio interview. “We are not guided by a calendar, we are guided by data.”