The priority of battling inflation is evident in the European Central Bank’s choice to increase its benchmark interest rate by 50 basis points. Additionally, it conveys a strong belief in the resiliency of European institutions, said François Villeroy de Galhau.

According to Villeroy de Galhau, who is also the governor of the Bank of France, speaking to the BFM radio, « French and European banks are very strong. »

The ECB raised its main interest rate by 50 basis points on Thursday although some investors believed the ECB would reconsider such a significant move in light of the recent turmoil on the financial markets.

source: bfmtv.com