By Nils Silence
Posted on to •
4 1 minute read
Posted on to •
4 1 minute read
François Villeroy de Galhau, Governor of the French Central Bank and member of the Governing Council of the European Central Bank, expects the monetary institution to cut interest rates this year. Although not all board members are convinced of this.
Why is this important?
The European Central Bank began raising interest rates in the summer of 2022. Since then, the deposit rate – the compensation banks receive for excess savings they hold with the central bank – has risen from negative 0.5% to 4%. Markets expect the European Central Bank to change its stance soon.In the news: The French governor expects that interest rates at the European Central Bank have reached their peak.
- He added to the news agency, “The next step is to lower interest rates.” Bloomberg. He added: “We succeeded in reducing inflation without plunging the eurozone into recession.”
- He adds that there is still a lot of uncertainty about when the first interest rate cuts will be. “A lot will depend on future dates,” she added.
Not everyone is in favor
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