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7/8/2019, 10:03 AM (Source: TeleTrader)
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ECB's Villeroy: No plan yet for Eurozone stimulus

The European Central Bank is responsible for price stability but it can't replace governments, according to Francois Villeroy de Galhau, who also repeated the warning about the impact of the trade war between the United States and China and other disputes in the sector. Speaking to CNBC in an interview aired on Monday, the governor of the Banque de France said the related uncertainty is the main challenge for the economy. He added there is still no decision among rate-setters about measures to relieve the economy from pressure and underpin inflation.

The member of the ECB's Governing Council hinted at "next meetings" for planning and failed to elaborate, saying "many things are possible." Policymakers "cannot be the only game in town or in the world," he stated in Aix-en-Provence. At the last gathering, they have pointed to increased risks and expressed willingness to lower interest rates to new records.

"We cannot compensate for trade tensions," said Villeroy, one of the apparent candidates to replace ECB President Mario Draghi, but added: "If and when needed, there must be no doubt about our determination to act and our capacity to act."

Baha Breaking News (BBN) / IT