ECB’s Villeroy: Central bank should aim to reach terminal rate by the summer

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European Central Bank (ECB) Governing Council member and French central bank governor Francois Villeroy de Galhau said on Wednesday, the central bank should aim to reach the terminal rate by the summer.

“Will have to raise rates further in the coming months.”

“ECB needs to be pragmatic about the pace of rate hikes.”

“French inflation likely to have peaked in 1H 2023, should fall to 4% towards the end of the year.”

EUR/USD is little changed at around 1.0740 so far this Wednesday, awaiting the US Consumer Price Index (CPI) data on Thursday for a fresh direction.

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