NEW YORK, April 19 The European Central Bank
should not reduce its economic stimulus yet, the chief of
France's central bank said on Wednesday, calling for
"pragmatism" in deciding which measures to phase out last.
"It is clear that the current macroeconomic environment does
not call for a recalibration," ECB rate setter Francois Villeroy
de Galhau said in New York.
"Our current monetary policy stance remains fully
appropriate ... and should not be adjusted before we see more
concrete signs that inflation can be sustained at levels closer
to our target."
He added: "Among our combination of various instruments, we
should withdraw last the measures that are most needed to secure
a sustained adjustment in the path of inflation consistent with
our target. We will continue to assess the situation with great
(Reporting By Francesco Canepa; Editing by Toby Chopra)