ECB’s Villeroy: to monitor FX impact on inflation outlook

ECB governing council member Francois Villeroy de Galhau was out on the wires in the last minute and said:

   •  Should not focus excessively on sole instrument of monthly net asset purchases
   •  Whether we end asset purchases in September or taper somewhat more gradually is not a ‘deep existential’ question
   •  To monitor impact of FX rate evolution, a source of uncertainty 
   •  ECB to be ready to reassess if necessary