A study by the Banque de France measured the impact of public interventions by ECB officials. One of the findings is that communication outside of monetary policy meeting days has a significant effect. "We keep our eyes wide open for economic data. If inflation should prove more persistent, don't worry about it.
How central bankers' speeches move the markets
François Villeroy de Galhau's remarks, made on Tuesday evening before the students of Dauphine, were immediately picked up by the press agencies.