ECB’s Villeroy: Hard Brexit is less and less implausible

European Central Bank (ECB) Governing Council member Francois Villeroy de Galhau recently crossed the wires arguing that the global economy was decelerating, not necessarily heading into a recession.

Key quotes (via Reuters)

• Hard Brexit is less and less implausible.
• We need to assess the extent to which the recent slowdown and drop in inflation are temporary.
• If drags fade away, and if geopolitical risks recede, GDP growth could rebound from next spring or summer.
• Should a downturn last beyond that horizon we would be ready to adapt our monetary policy guidance.