ECB’s Villeroy: inflation in France and Europe will peak in first half of 2023

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FILE PHOTO: Francois Villeroy de Galhau, Governor of Banque de France, speaks at the Paris Europlace International Financial Forum in Paris

PARIS (Reuters) – Inflation should reach its peak in France and in Europe by the first half of next year, French ECB policymaker Francois Villeroy de Galhau said on Monday.

“It is out of the question to let inflation settle in, it’s a disease of the economy (…) inflation should peak in France and in Europe by the first half of next year,” he said during an interview with France 5 television.

Villeroy, who is also head of the French central bank, said inflation should be back to around 2% – which is the ECB’s target – by two or three years versus a 10.6% year-on-year inflation rate in October.

(Reporting by Leigh Thomas and Benoit Van Overstraeten; Editing by Geert De Clercq)

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