Finance › Speeches › François Villeroy de Galhau

About our monetary policy - a good position but not a comfortable, nor a fixed one

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

Summary written by Dark Majestic in its own words · topics: monetary policy and interest rates, inflation and price stability

FV
· François Villeroy de Galhau Wiki · Banque de France WikiAbout our monetary policy - a good position but not a comfortable, nor a fixed one

ContextSpeech by the Governor of the Banque de France hosting the fourth annual CEPR Paris Symposium of academics and policymakers.

Why it mattersThe Banque de France Governor explains the ECB's end-2025 stance and why it keeps full flexibility.

Problems raised
  1. Uncertainty remains high.
  2. Inflation could fall below target.
  3. Services inflation is still catching up.
Solutions proposed
  1. Hold a firm commitment to the symmetric 2% target.
  2. Give only soft guidance on rates.
  3. Keep full flexibility for future meetings.
Read full speech on bis.org ↗

More from François Villeroy de Galhau · Banque de France · all speeches

More speeches by François Villeroy de Galhau

Other leaders on monetary policy and interest rates