ECB’s Villeroy: A temporary recession cannot be excluded

European Central Bank (ECB) Governing Council member and French central bank governor Francois Villeroy de Galhau warned on Friday, “a temporary recession cannot be excluded.”

Additional quotes

“Growth for the whole of 2022 will be 2.6%.”

“In 2023, growth will be probably slightly positive. “

Market reaction

EUR/USD is consolidating gains above 1.0550 following the comments from the ECB policymaker. The currency pair is up 0.16% on the day.

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