ECB Villeroy: ECB should reach neutral rate close to 2% by end year – by fx_ross ECB Europe EURUSD
member and Bank of France's head Francois Villeroy de Galhau said they should reach a neutral rate of close to 2% by the end year and said a discussion about 50 bps or 75 bps hike in October is premature amid volatile markets.
"The reimbursement of TLTROs comes first, and we should avoid any unintended incentives to delay repayments by banks," he said. He argued the ECB should start this unwind slowly and then accelerate, with a clearly communicated "end-point...in terms of both the terminal date and size". If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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