The member of the Governing Council of the European Central Bank (ECB) and President of the Bank of France, Francois Villeroy of Galhau, said it is “fully justified maintaining an accommodative monetary policy for now“.
Featured statements
“We see that the The midpoint of the forecast horizon for the 2% inflation target will arrive in around 12-18 months.”
“We will revisit the ECB’s asset purchase program this fall.”
“We will keep the PEPP program.”
“There was a great majority around the opinions of the president of the ECB, Lagarde, yesterday.”
Market reaction
The EUR/USD has tested new lows with moderate comments from the ECB’s policy maker. The pair has hit an intraday bottom at 1.1762, but has now rallied slightly to 1.1771, where it is up 0.01% on the day.
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