Villeroy de Galhau rejects ‘populist’ critique of central banks
Independent institutions belong in driver’s seat ‘more than ever’, says former BdF governor
Governments and markets should not set the course of monetary policy, a former governor of the Banque de France (BdF) has said.
Speaking at the London School of Economics on September 30, François Villeroy de Galhau, who headed the BdF from 2015 to 2026, dismissed “populist” critiques of central banks – which he said were loudest in the US – as “unfounded” and “counterproductive”. Central bank independence was conferred by democratically elected institutions, he said, and attacks on it were
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