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Villeroy of the ECB: a rate hike of 50 basis points is not part of the consensus of the ECB

  • Remarks by ECB policy chief François Villeroy de Galhau

Justin Low

Tuesday 05/24/2022 | 08:15 GMT-0

05/24/2022 | 08:15 GMT-0

  • The ECB is normalizing its policy
  • There is no compromise between growth and inflation

Even Lagarde seemed rather thoughtful about a 50 basis point rate hike earlier, so that’s hardly a surprise. In my opinion, the problem for the ECB is not to get rates from -0.5% to 0%, but rather to raise them significantly into positive territory – even more so if they want to talk about any chance of reaching the assumed neutral rate.

In any case, Villeroy said earlier today that the rate hikes in July and September are “probably a done deal.” This hints more at a rate move of 25 basis points every meeting.

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