François Villeroy de Galhau

François Villeroy de Galhau is the Governor of the Banque de France. He is in the news due to his recent statements and actions related to French and European economic policy. He anticipates a likely interest rate hike by the European Central Bank (ECB) at its next review, though he refrains from providing a specific timeline. He also emphasizes the need for vigilance regarding global financial markets, particularly concerning US stock indices, private credit, and crypto assets, while dismissing the likelihood of a European banking crisis. Villeroy de Galhau also stated that he does not foresee a recession despite the conflict in the Middle East. Furthermore, the Banque de France, under his leadership, has modernized its gold reserves by repatriating gold stored in New York to Paris, resulting in a significant capital gain of approximately 13 billion euros. The Banque de France reported a net profit of 8.1 billion euros in 2025, recovering from a substantial loss in 2024, and possesses substantial net assets to withstand future economic shocks.