FRANKFURT (Dow Jones) — According to ECB Council member Francois Villeroy de Galhau, the European Central Bank (ECB) will raise interest rates less than before. Villeroy de Galhau said in Parliament’s finance committee: “Following the sprint of monetary policy normalization that began in July 2022, we are now entering a phase that is more like a long-distance run.” This phase will be longer, but “slower” and “more pragmatic” in terms of pace.
The governor of the Banque de France (BdF) hopes that interest rates will have peaked by the middle of the year, in September at the latest. He also announced that the BdF would raise its growth forecast for France in 2023. In December, she had predicted growth of 0.3 percent.
Contact the author: [email protected]
DJG/hab/jhe
(END) Dow Jones Newswires
March 09, 2023 03:27 ET (08:27 GMT)