ECB’s Villeroy: Next Steps Depend on Inflation, My Position Not ‘Set in Stone in Advance’

12 June 2025

ECB’s Villeroy: Next Steps Depend on Inflation, My Position Not ‘Set in Stone in Advance’
François Villeroy de Galhau, governor of the Banque de France, at the European Central Bank Forum on Central Banking in Sintra on July 2, 2024. Photo by the ECB under CC BY-NC-ND 2.0.

By Marta Vilar – MADRID (Econostream) – European Central Bank Governing Council member François Villeroy de Galhau on Thursday declined to make detailed comments on future interest rate decisions.

In an interview with French radio France Info, Villeroy, who heads the Banque de France, said that the ECB’s latest rate cut was related to the ‘victory against inflation’.

‘As for future rates, we will see how inflation evolves’, he said.

Pressed by the interviewer to elaborate further on what he expected the ECB to do next, Villeroy said merely, ‘I am never on positions that are set in stone in advance.’

‘I believe in pragmatism and agility in monetary matters. We'll see’, he added.

 

Related articles:

ECB’s Villeroy: Interest Rate Normalisation ‘May Not Yet Be Over’