(ANSA) - MILAN, MARCH 01 - "The first February data published yesterday for Spain and France require us to be vigilant and persevere in our monetary action".
This was stated by the governor of the Bank of France and member of the ECB, Francois Villeroy de Galhau, in a hearing before the Finance Committee of the French Parliament.
Villeroy said he considered it "desirable to reach the terminal rate by the end of the summer, which means at the latest by September".
Yet core inflation, net of the price of energy and foodstuffs, continues to grow, he said: "consequently, no one can deny that monetary policy can and must react".
"Based on our forecasts, inflation is expected to peak in the first half" of 2023 "and could be halved by the end of the year."
(HANDLE).