DAVOS: French central bank chief François Villeroy de Galhau stressed that it was not possible to say in which season the European Central Bank may cut interest rates this year.

‘About the season, why don’t I say anything? I said it should be this year, barring major surprises. But…we are not calendar driven, we are data-driven,’ he said during a CNBC-moderated panel event at the World Economic Forum in Davos, Switzerland.

On the path of inflation, he added: ‘It’s too early to declare victory … the job is not yet done. That said, interest rate tightening has been quite successful so far, more successful than we thought even at Davos one year ago.’

‘What we can see on both sides of the Atlantic is something like a soft landing so far.’

Source: Emirates News Agency