ECB Governing Council member Francois Villeroy de Galhau told BFM Business radio that “the match is not over” in fighting inflation, adding that rate hikes remain the main tool.
Regarding the quantitative tightening on the APP by EUR 15B per month from March, he said, “we will re-examine it in June and we will probably increase the reduction starting in July,”
“The European economy is more resilient than we feared even a few weeks ago,” he said. “There will be a strong slowdown in 2023. We will escape what certain people call a hard landing. We will have a rather significant rebound in 2024 and 2025.”