Bank of France President Francois Villeroy de Galhau spoke in a weekend interview that he is in no rush to raise rates further after hiking to 4.00% last week, according to Bloomberg.
Key quotes
“From today’s perspective, patience is more important than raising rates further,”
“Very attentive to oil but it doesn’t put into doubt the underlying disinflation.”
“Our outlook and engagement is to bring inflation to around 2% in 2025.”
Market reaction
These comments did not trigger a noticeable market reaction. As of writing, the EUR/USD pair was up 0.01% on the day at 1.0649.
Source: https://www.fxstreet.com/news/ecbs-villeroy-patience-is-more-important-than-raising-rates-further-202309250013