The European Central Bank (ECB) should cut rates in the spring to maintain well-being rather than waiting until the summer, the governor of the Banque de France (BdF) said in a speech on March 28.

François Villeroy de Galhau praised the ECB for avoiding contagion and recession when dealing with inflation. But he warned that services inflation remained strong as core eurozone inflation remains at 3.1% year on year.

“There is a risk of keeping our foot pressed on the monetary brake for too long,”