ECB's Villeroy: Inflation should fall back under 2.0% by year-end
|France central bank head and ECB governing council member François Villeroy de Galhau reiterated on Tuesday that French inflation is likely to fall back under 2.0% by the end of 2022. However, should inflationary pressures prove more persistent, he added, he has no doubt that the ECB would adapt its monetary policy faster.
Market Reaction
EUR/USD selling continues and the pair has now dipped below its 50 and 21-day moving average to trade in the 1.1320s, down about 0.7% on the day. Recent losses do not appear to have anything to do with Villeroy's latest remarks which did not contain any new information/angles on ECB policy.
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