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- ECB’s Villeroy: ‘Jumbo’ rate hikes will not be a new habit
ECB’s Villeroy: ‘Jumbo’ rate hikes will not be a new habit
“We will probably continue to raise rates, but may do so in a more flexible and possibly less rapid manner,” the European Central Bank (ECB) Governing Council member and French central bank governor Francois Villeroy de Galhau said late Monday while speaking from Tokyo.
Additional comments
We are clearly approaching 'normalisation range', which can be estimated at around 2%.
Says we have removed substantial part of accommodative policy, after ECB governing council brought deposit facility rate to 1.5% on Oct. 27.
Fiscal measures should be targeted in keeping 'price signal' that provides incentive to decrease energy consumption.
Though fiscal measures are politically needed, they should remain temporary and targeted at consumers who need them most.
Signs of peaking headline and core inflation in United States last Thursday are good news for everyone.
Favourable condition to interrupt rate hikes would be clear signs of turnaround in core inflation trend.
We are clearly approaching 'normalisation range', which can be estimated at around 2%.
EURUSD grinds lower
Following the news, EURUSD price retreats towards the intraday low, down 0.12% on a day near 1.0315 by the press time.
Also read: EURUSD grinds lower towards 1.0300 amid recession fears, hawkish Fedspeak ahead of Eurozone GDP
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