Central Banks
ECB’s Villeroy Reiterates That Rates Will Be Cut This Year
- French official refuses to give specific timing for easing
- Decision on rate reductions to depend on data, Villeroy says
Francois Villeroy de Galhau
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The European Central Bank is set to cut interest rates at some point in 2024, Governing Council member Francois Villeroy de Galhau reaffirmed, without giving more specific guidance on how soon that could be.
Last year’s rapid monetary-policy tightening has helped curb underlying inflation, Villeroy told representatives of France’s financial sector in a traditional New Year address. But he said officials should maintain vigilance and not commit to a specific date.