July 3, 2019 / 3:14 PM / in 15 days

The ECB is not short of ammunition: Villeroy

FILE PHOTO: Francois Villeroy de Galhau, governor of the Bank of France, attends the Group of 20 (G-20) high-level seminar on financial innovation "Our Future in the Digital Age" on the sidelines of the G-20 finance ministers and central bank governors meeting in Fukuoka, Japan, on Saturday, June 8, 2019. Kiyoshi Ota/Pool via REUTERS/File Photo

PARIS (Reuters) - The European Central Bank still has powder dry to act in the face of weak inflation if needed, ECB policymaker Francois Villeroy de Galhau said on Wednesday.

Villeroy, who is also governor of the Bank of France, said that neither the ECB’s determination nor its means to act should be called into question.

“On the means, we are in no way short of ammunition ... if necessary,” Villeroy told lawmakers on the finance commission of France’s lower house of parliament.

He cited in particular the level of interest rates, forward guidance about rates, the central bank’s stock of assets and measures to boost banks’ liquidity.

Reporting by Leigh Thomas; Editing by Sudip Kar-Gupta

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