Bank of France head Villeroy says he expects inflation to remain moderate in France

PARIS (Reuters) – Bank of France head and European Central Bank (ECB) member Francois Villeroy de Galhau said on Wednesday he expected inflation to remain moderate in France and that he anticipated more rate cuts by the ECB.

Villeroy also told France Inter radio that he expected the French unemployment rate to increase to around 8% before returning to 7%.

The Bank of France issued its latest monthly outlook late on Tuesday, saying France’s economic growth would flatline in the final three months of the year.