European Central Bank Governing Council member and Bank of France Head Villeroy de Galhau crossed the wires in the last minutes saying that the ECB’s non-standard policies had been effective but added that they could also create a mistaken illusion that the policy is “omnipotent.”
“It is up to political leaders to restore the confidence they have undermined,” Villeroy argued. “Europe needs to make greater use of the scope it has to respond to the slowdown.”
The EUR/USD paid no attention to these comments and was last seen trading at 1.1063, losing 0.07% on the day.
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