Euro zone needs loose monetary policy until inflation goal near, says Villeroy squib

The European Central Bank will need to keep monetary policy loose until its inflation target is clearly in sight, European Central Bank policymaker Francois Villeroy de Galhau said on Sunday in an interview with German newspaper Handelsblatt. Inflation in Europe's single currency bloc is at its weakest in four years, standing at 0.1% in May and forecast to average 0.3% in 2020, far below the ECB's target of close to but less than 2%. "We will need a very loose monetary policy until that objective is in plain sight," Villeroy said in the interview.
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