The European Central Bank will likely give further guidance on when it expects to raise interest rates before the end of the year, the head of the French central bank said.
The guidance will make clear that the first hike will take place some quarters after the end of the ECB's quantitative easing program, and will be contingent on the path of inflation, Banque de France Governor François Villeroy de Galhau, who is also a member of the ECB's governing council, told CNN, saying that whether QE ended as scheduled in September or ran until December was not a major issue.
In March, the ECB dropped forward guidance indicating that it was prepared to step up its quantitative easing if conditions worsen.
