Despite weaker economic data and declining inflation, the ECB is aiming for the expected change of course. ECB Governing Council member Francois Villeroy de Galhau, head of the French central bank, considers an earlier than currently generally anticipated increase in the ECB's key interest rate likely. In its official wording, the ECB expects interest rates to rise after the end of its securities purchase program, which will run until at least the end of September. Above all, the inflation trend is decisive, but the ECB believes that the recent fall in inflation is temporary. Euro zone government bonds yields and the euro rose following the comments.
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