ECB Governing Council Member Francois Villeroy de Galhau said as inflation falls short of the central bank’s target, monetary policy must be kept “active and accommodative”.

Also, “if the current slowdown becomes a real slamming of the brakes, we can do more than we are doing currently”. However, he also warned that “they can temporarily attenuate the consequences of a weaker global economy, but they cannot take care of the cause.” De Galhau referred to uncertainty created by trade tensions.

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