ECBs Villeroy: Next rate move must be carried out with determination

ECBs Villeroy is on the wires saying:

• The next rate move must be carried out with determination, but in an orderly and predictable way
• Inflation spreading through economy including services which justifies an ECB mobilization
• Currently not seeing a wage price spiral
• French 2022 growth should be at least as high as June forecasts of 2.3%
• Does not see a recession in Europe in 2022, nothing can be excluded 4 2023
• Expects sharp slowdown in France in 2023 rather than a recession