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- ECB’s Villeroy: Illusion of limitless and costless debt is very dangerous
ECB’s Villeroy: Illusion of limitless and costless debt is very dangerous
The illusion of a limitless and costless debt is attractive but "very dangerous,” European Central Bank (ECB) Governing Council member and Bank of France head Francois Villeroy de Galhau told France Inter radio on Wednesday.
Additional quotes
War in Ukraine is a "negative shock" for the French economy.
French economy resists on employment and activity fronts but inflation is very high.
Inflation is main worry of companies and citizens.
Inflation should stay high the whole year.
Inflation should be back at around 2% in 2024.
Interest rates will be raised gradually.
ECB will start raising rates this summer.
Market reaction
Despite the hawkish ECB-speak, EUR/USD remains capped below 1.0550. The pair is currently trading at 1.0539, up 0.13% on the day.
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