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ECB should stick to current policy stance: Villeroy

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The European Central Bank (ECB) should to stick to its current monetary policy stance, French central bank chief Francois Villeroy de Galhau said on Wednesday, noting that the ECB needs to exercise caution with monetary policy.

[FRANKFURT] The European Central Bank (ECB) should to stick to its current monetary policy stance, French central bank chief Francois Villeroy de Galhau said on Wednesday, noting that the ECB needs to exercise caution with monetary policy.

Mr Villeroy, who also sits on the ECB's rate-setting governing council, said that European national governments need to do their part to revive growth because the ECB alone cannot put the euro area on a path to sustainable growth.

Speaking on the last day before the ECB's quiet period starts ahead of its next rate meeting on Sept 8, he said that so-called helicopter money - payments made directly from central banks to individuals - was not an appropriate tool for a cautious policy.

REUTERS