Davos 2024
ECB Cut Very Probable in 2024 But Timing Open, Villeroy Says
- Bank of France governor speaks to Bloomberg TV in Davos
- ECB officials are set to keep the deposit rate at 4% next week
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The European Central Bank is likely to start lowering borrowing costs this year but the exact timing will depend on data, according to Governing Council member Francois Villeroy de Galhau.
The ECB’s next move will be a cut as it’s so far delivered disinflation in the euro area while avoiding a recession, the Bank of France governor told Bloomberg Television. The view on the economy was backed Tuesday by data showing a surprise improvement in investor confidence in Germany that could help it rebound from a disappointing 2023.