ECB Governing Council member Francois Villeroy de Galhau told Radio Classiqu, “activity in France is showing a better than expected resistance,” and a hard landing should be avoided. He expects inflation in France to peak in H1 2023, then falls back to 4% towards the end of the year.
Villeroy also said that ECB should aim to reach terminal interest rate by summer, and emphasized the need to be pragmatic about the pace of tightening.
