Villeroy speaking in Tokyo.
- Need to strongly and quickly regulate crypto assets internationally
- latest episodes show that we can't allow for second 'crypto winter' to add to uncertainty and financial instability
Also with economy and policy related comments:
- We are clearly approaching 'normalisation range', which can be estimated at around 2%
- Says we have removed substantial part of accommodative policy, after ECB governing council brought deposit facility rate to 1.5% on Oct. 27
- Fiscal measures should be targeted in keeping 'price signal' that provides incentive to decrease energy consumption
- Though fiscal measures are politically needed, they should remain temporary and targeted at consumers who need them most
- Signs of peaking headline and core inflation in united states last Thursday are good news for everyone
- Favourable condition to interrupt rate hikes would be clear signs of turnaround in core inflation trend
- 'jumbo' rate hikes will not become a new habit
- We will probably continue to raise rates, but may do so in a more flexible and possibly less rapid manner
- We are clearly approaching 'normalisation range', which can be estimated at around 2%
ECBs Villeroy