European Central Bank will not hesitate to act to bring down inflation, French official says

The European Central Bank will not hesitate to act to bring down inflation, Bank of France ‌Governor Francois Villeroy de Galhau said in an interview with Le Figaro newspaper that was released on Monday evening.

"Households and businesses can trust us to bring inflation back down to 2% in the medium term; we will not hesitate to act to achieve this if necessary," said Villeroy, who is also a member of the ECB's governing council.

Villeroy is set to leave his job at the helm of the Bank of France at the end of the month.

Emmanuel Moulin, President Emmanuel Macron's former chief of staff, won lawmakers' approval to become the head of the country's central bank from next month.

-Reporting by Inti Landauro; Editing by Jamie Freed/Reuters