Villeroy is set to retire but he's out with some fresh comments:
- It's far too early to predict a timetable for rate hikes but it's clear we have the capacity to act whenever it's necessary
- As of today, we are closer to the ECB's adverse scenario than the baseline
The 'far too early' line excludes the upcoming meeting and that mostly aligns with the market move. But I'm sure everyone at the ECB -- like everyone else in the world -- is taking it one day at a time with this war.
