European Central Bank governing Council Villeroy: euro zone inflation is still too high but has passed its peak

[European Central Bank governing Council Villeroy: euro zone inflation is still too high but has passed its peak] May 11, European Central Bank governing Council Villeroy said that the euro zone inflation rate is still too high, but has already passed the peak. It is expected that the inflation rate may be close to the target level of 2% by the end of 2024 at the earliest. Previous interest rate increases have had a suppressing effect on inflation. French GDP is expected to grow slightly in the second quarter, confirming a target of 0.6 per cent GDP growth for the whole of 2023