Francois Villeroy de Galhau, the ECB's governing board and president of the Bank of France, said on Tuesday that there was no reason for the ECB to raise interest rates between now and the end of 2022 because inflation expectations in the eurozone would fall below the ECB's 2 per cent target.
"at present, the overall inflation rate is just over 2 per cent," Villeroy said in an interview. But I am confident that by the end of next year, headline inflation will be back below 2 per cent. "
"so, for example, there is no reason for the ECB to raise interest rates next year."
It is reported that ECB President Christine Lagarde said last week that the ECB still sees the rise in inflation in Europe as temporary and that there is no sign that the recent surge in inflation is related to wages.