ECB’s Villeroy: Engaged in bringing down inflation to 2% aim in “two to three years” from now

European Central Bank (ECB) policymaker and the Bank of France head Francois Villeroy de Galhau expressed his take on the bloc’s inflation outlook while speaking on France Culture radio on Monday.

Key quotes

“ECB engaged in bringing down inflation to 2 pct aim in "two to three years" from now.”

“Right inflation target is around 2%.”

“We are far from reaching the 2% aim in eurozone.”

“Monetary policy measures take time before having a full effect, which is why it will take 2 to 3 years to bring inflation back down to target.”