ECB Governing Council member Francois Villeroy de Galhau said the central bank is engaged in bringing down inflation to 2% target in “two to three years” time. “It is a very strong signal the central bank sends to all economic players that we will bring down inflation to the target”, he said.
Another Governing Council member Mario Centeno said, “normalization of monetary policy is absolutely necessary and desired.” But he added, that “policy normalization must be gradual… A policymaker cannot become a factor of instability”.
