12/6/2023, 8:18 PM (Source: TeleTrader)
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ECB's Villeroy: No talks about rate cuts before 2024

Member of the European Central Bank (ECB) Governing Council Francois Villeroy de Galhau remarked on Wednesday that the institution will not discuss cutting interest rates before some time in 2024.

Speaking to La Depeche, Villeroy said that the bank is on its way to defeat inflation despite not being quite there yet. He also expressed his belief no new rises in rates will be needed unless a new economic shock emerges.

Villeroy thus reaffirmed his recent statement the ECB will have to hike rates again if there are no "external shocks or surprises."

Baha Breaking News (BBN) / JR