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- François Villeroy de Galhau, the European Central Bank (ECB) Governing Council member and Governor of the Banque de France: keeping interest rates low too long could lead to the next financial crisis
François Villeroy de Galhau, the European Central Bank (ECB) Governing Council member and Governor of the Banque de France: keeping interest rates low too long could lead to the next financial crisis
François Villeroy de Galhau, the European Central Bank (ECB) Governing Council member and Governor of the Banque de France, said in a speech on Tuesday that keeping interest rates low too long could lead to the next financial crisis.
"Staying too low for too long may fuel the next financial crisis as liquidity addiction and excess risk taking eventually lead to bubbles and financial instability," he said.
Villeroy de Galhau pointed out that the central bank's quantitative easing will around half a point to inflation in 2016 and almost the same to economic growth in the Eurozone.
He said in an interview with Bloomberg Television in Paris on Tuesday that inflation in the Eurozone remains too low, adding that the central bank has tools to expand its stimulus measures if needed.
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