ECB’s Villeroy Sees No Reason to Raise Interest Rates Soon

The European Central Bank has no reason to raise interest rates soon after probably holding borrowing costs at their current level at a meeting next week, Governing Council member Francois Villeroy de Galhau said.

“It would probably be wise to maintain rates at the favorable level they are at currently, while remaining agile and open about future meetings,” the Bank of France chief said on Europe 1 radio, discussing the Dec. 18 policy decision. “As seen today, there is really no reason to envisage a rate increase in the near future, contrary to certain rumors and speculation that may have been heard.”