2/7, 11:45 AM (Source: TeleTrader)
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ECB's Villeroy: Not very far from peak inflation

European Central Bank policymaker Francois Villeroy de Galhau argued on Tuesday that the Eurozone's economy is not very far from seeing the peak of inflation. Commenting on the outlook, he estimated that a return to the 2% target range can be expected by the end of 2024 or in 2025.

The Bank of France governor also noted that the euro area will probably avoid a recession in 2023, saying that the ECB won't have to choose between fighting inflation and leading the bloc's economy into the contraction territory. However, the official stressed that the ECB's low rates seen over the past years won't return soon.

The Eurozone's annual inflation dropped to 8.5% in January, according to the official data published last week, with a separate report revealing the bloc's economy narrowly avoided contraction in the last quarter of 2022.

Baha Breaking News (BBN) / ND