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Some thoughts about monetary policy, the year to come, and the past ten years

· François Villeroy de Galhau, Governor of the Banque de France (France)

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· François Villeroy de Galhau Wiki · Banque de France WikiSome thoughts about monetary policy, the year to come, and the past ten years

ContextSpeech at the Banque de France in Paris for the 25th anniversary of the Euro50 Group; the central bank keeps prices stable and reviews ten years of euro area monetary policy.

Why it mattersThe French governor keeps options open on further cuts and reflects on a decade of unconventional policy.

Problems raised
  1. The outlook is uncertain.
  2. Growth is weak.
  3. Future cuts depend on data.
Solutions proposed
  1. Keep optionality on rate cuts.
  2. Decide based on incoming data.
  3. Reflect on ten years of monetary policy.
Read full speech on bis.org ↗

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