ECB’s Villeroy: ‘Quite Likely’ That Risks to Inflation Are to the Downside

18 April 2025

By Marta Vilar – MADRID (Econostream) – European Central Bank Governing Council member François Villeroy de Galhau said on Friday that inflation risks were now weaker and probably to the downside.

In an interview on French TV broadcast Ecorama, Villeroy, who heads the Banque de France, said that ‘the inflationary risk seems rather weak, it’s even quite likely that the risks to inflation today are downward’ given the strength of the euro, lower commodity prices and potential dumping from countries like China.

‘There’s an expression I like a lot that I’ve been using since last year at least which is “agile pragmatism” - it was valid in March and it was just as valid for our decision yesterday,’ he said.

‘We’re ready to react quickly to the latest available information’, he added.

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