Banque de France
BDF
Decoder
Middle East conflict raises short-term inflation expectations
Business leaders in France revised their short-term inflation expectations upwards following the outbreak of the Middle East conflict on February 28, 2026.
Focus
BDF
Speech
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.
BDF
Paper
Inflation controlled, financial system resilient in 2025
The Banque de France's 2025 annual report highlights successful inflation control and a resilient financial system.
Latest
BDF
Speech
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.
BDF
Paper
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.
BDF
Speech
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.
More Topics
BDF
Paper
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.
BDF
Paper
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.
BDF
Paper
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.
BDF
Paper
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.
BDF
Paper
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.
BDF
Decoder
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.