Bank of France’s Villeroy: ECB engaged in bringing down inflation to 2% in two to three years from now

Posted on October 10, 2022Comments Off on Bank of France’s Villeroy: ECB engaged in bringing down inflation to 2% in two to three years from now

© Reuters. FILE PHOTO: Governor of the Bank of France Francois Villeroy de Galhau speaks during a news conference at the G7 finance ministers and central bank governors meeting in Chantilly, near Paris, France, July 18, 2019. REUTERS/Pascal Rossignol//File Photo

PARIS (Reuters) -The European Central Bank (ECB) is engaged in bringing down inflation to 2% percent in “two to three years” from now, ECB member and Bank of France head Francois Villeroy de Galhau told France Culture radio on Monday.

He reiterated that “close to 2%” was still the right target monetary policymakers at the ECB and elsewhere should pursue, adding the eurozone was “still far from it.”

Eurozone inflation accelerated to 10% last month.

“It is a very strong signal the central bank sends to all economic players that we will bring down inflation to the target”, Villeroy said, adding that monetary policy measures will take two to three years to take full effect.

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Comments Off on Bank of France’s Villeroy: ECB engaged in bringing down inflation to 2% in two to three years from now