The European Central Bank "will do what is necessary" to bring inflation back to the 2 percent target, ECB policymaker and Bank of France Governor Villeroy de Galhau said in an interview to the broadcaster CNBC on Tuesday.
Eurozone has been witnessing steadily rising inflation since the war in Iran began. Energy costs have surged owing to the rising crude oil price, triggered by the supply disruptions caused by the closure of the Strait of Hormuz. Headline inflation in the euro area shot up to 3 percent in April from 2.6 percent in the previous month.
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Business News
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.