ECB's Villeroy: Need to progressively normalise monetary policy

European Central Bank (ECB) Governing Council member Francois Villeroy de Galhau reiterated on Monday that the ECB stands ready to do what it takes to get inflation back down below 2%, as reported by Reuters.

"We need to progressively normalise the monetary policy," Villeroy further added.

Market reaction

These comments don't seem to be having a noticeable impact on the shared currency's performance against its major rivals. As of writing, the EUR/USD pair was trading at 1.1328, where it was down 0.12% on a daily basis.