Bank of France Governor Francois Villeroy de Galhau stated on Monday that the peak of inflation in the euro area should be reached in the first half of 2023.
The impact of the energy crisis on overall price growth "will fade away starting probably from next spring," the European Central Bank Governing Council member told The Irish Times. He also called for continued interest rate increases until it becomes evident that the underlying inflation hit its peak, but declined to predict where the terminal rates will stand.
"Our aim is not to provoke a recession but to tame inflation," Villeroy de Galhau underlined.
