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European Central Bank (ECB) Governing Council member François Villeroy de Galhau said on Tuesday that they have a commitment to maintaining a very accommodative policy stance, as reported by Reuters.

Additional takeaways

“We want to prevent an unwarranted fragmentation triggered by shocks or volatility.”

“We will be ready to use all the power of all our policy instruments, including the flexibility of our PEPP programme.”

“Our goal is and remains inflation, financing conditions are about monetary policy transmission.”

“We monitor carefully the implications of the exchange on the inflation outlook.”

Market reaction

The EUR/USD pair showed no immediate reaction to these remarks and was last seen gaining 0.22% on the day at 1.2164.