Banque de France
Villeroy de Galhau: Central banks must be humble, nimble, independent
François Villeroy de Galhau, the departing head of the Banque de France, reflects on a decade of central banking challenges.
Focus
Inflation controlled, financial system resilient in 2025
The Banque de France's 2025 annual report highlights successful inflation control and a resilient financial system.
Villeroy de Galhau outlines decade of supervision lessons
François Villeroy de Galhau, Governor of the Banque de France, presented the ACPR Annual Report for the final time.
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Gas price shock accelerates European industrial shift
The 2022 gas price shock significantly impacted European industry, accelerating a pre-existing restructuring towards less energy-intensive sectors.
Villeroy de Galhau: French economy needs long-term reforms
Banque de France Governor François Villeroy de Galhau submitted a letter to the President of the Republic in May 2026.
BdF updates FR-BDF model, simplifies forecasting with FR-BMEs
The Banque de France has updated its Basic Model Elasticities (BMEs) for the FR-BDF macroeconomic model and introduced FR-BMEs, a simplified forecasting platform.
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FR-BDF model update: French tightening cuts GDP 2 pp, inflation 1.2 pp
The Banque de France has updated its core macroeconomic model, FR-BDF, to reflect recent economic shifts.
Investor disputes pose climate transition risk for developing nations
A Banque de France study warns that investor-state dispute settlement (ISDS) mechanisms pose a significant financial risk, creating a 'regulatory chill' that hinders climate transition policies.
US inflation and growth risks: Demand, supply, stagflation
A Banque de France study measures US inflation and growth risks from 1981 to 2024, disentangling demand and supply drivers.
Trichet offers long view on monetary policy challenges
Jean-Claude Trichet, former ECB President, delivered a lecture reflecting on central banking during the 2007-2009 financial crisis.
Villeroy de Galhau: Inflation controlled, warns on debt, digital euro
Banque de France Governor François Villeroy de Galhau reported that French inflation fell to 1.1 percent in February 2026, with euro area inflation reaching 1.9 percent.
Extreme weather risks: €196 billion losses for French finance
A Banque de France blog post estimates French financial institutions face €196 billion in losses from extreme weather events.