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Davos 2023: Euro zone could avoid recession, Villeroy says

cde.news desk 18 January 2023, 18:00 · 1 min read

epa09969589 Francois Villeroy de Galhau, Governor of the Central Bank of France, addresses a plenary session during the 51st annual meeting of the World Economic Forum, WEF, in Davos, Switzerland, 23 May 2022. The forum has been postponed due to the COVID-19 pandemic and was rescheduled to early summer. The meeting brings together entrepreneurs, scientists, corporate and political leaders in Davos under the topic 'History at a Turning Point: Government Policies and Business Strategies' from 22 to 26 May 2022. EPA-EFE/LAURENT GILLIERON

Jan 18 (Reuters) – The euro zone economy is performing better than feared just a few months ago and the 20-nation bloc could even avoid a recession, French central bank chief Francois Villeroy de Galhau said on Wednesday.

“If I look at the situation from Europe – it’s probably the same in the U.S., more or less – activity is more resilient than expected, and we should avoid a recession this year, which I wouldn’t have (expected) three months ago,” Villeroy told a World Economic Forum panel in Davos.

He added that inflation will likely peak in the first half of the year, with underlying figures hitting their high only after headline figures, and this battle against rapid price growth is not yet won.

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Topics Davos Francois Villeroy de Galhau

Davos 2023: Euro zone could avoid recession, Villeroy says

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