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ECB could act further to provide "favourable" financial conditions if needed: Villeroy

[PARIS] The European Central Bank could take further action on financing conditions for the eurozone economy if deemed necessary, ECB governing council member Francois Villeroy de Galhau said on Thursday.

The ECB stepped up its asset purchase programme and lowered rates further earlier this month with the hope of boosting lending to businesses and consumers as it fights to ward off deflationary pressures.

"We decided on March 10 a comprehensive and powerful package, aiming to provide favourable financial conditions for the economy," Villeroy said in the text of speech delivered at a high-level G20 seminar in Paris.

"We will look closely at these financial conditions in the future and if needed, we could act further," Villeroy, who is also governor of the French central bank, added.

REUTERS

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