Options open at upcoming ECB rate meeting but no cuts in sight, says Villeroy

"We are very close to the peak in our interest rates, we are however still far from the point where we could consider cutting them."

Governor of the Bank of France and ECB policymaker Francois Villeroy de Galhau (Photo by ERIC PIERMONT / AFP) (Photo by ERIC PIERMONT/AFP via Getty Images)

The European Central Bank has a range of options at its next interest rate meeting, although interest rates are near their high point with recent signs that underlying inflation has peaked, ECB policymaker Francois Villeroy de Galhau said on Friday.

The bank has hiked rates to a more than two-decade high and debate among rate-setters is beginning to heat up over whether to pause, especially in the face of growing signs of economic weakness.