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7/7, 1:35 PM (Source: TeleTrader)
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Slowdown in inflation expected in 2023 - ECB's Villeroy

European Central Bank (ECB) Governing Council member and Bank of France Governor Francois Villeroy de Galhau (pictured) predicted a significant slowdown in inflation in the first half of 2023 in case oil prices do not rise further, adding that a new energy shock would undoubtedly push inflation to last longer, he told Les Echos in an interview on Thursday.

Villeroy stressed that the shock of the Ukrainian war is "inflationary" and "durable," noting that inflation in the country rose to 5.8% in June while hitting 8.6% in the zone.

In addition, he stated that reducing public debt to pre-pandemic levels is "possible" in the next ten years by increasing France's growth potential and improving the effectiveness of government spending, adding the ECB is working on developing an anti-fragmentation tool.

Baha Breaking News (BBN) / AB