Governing Council of the European Central Bank (ECB) Member Francois Villeroy de Galhau claimed on Monday that the situation in the world has changed, and warned that raising money from debt now comes with a cost, as opposed to the coronavirus crisis.
Answering questions during a World Economic Forum panel, he explained that inflation is the ECB's primary challenge in the short term, just like supply-side disruptions are the lender's priority in the middle term.
He refused to answer when the ECB will raise its interest rates, but added that the "deal" to bring down the rates "is nearly done."
