"We've had good inflation numbers and in parallel an increase in long-term rates. It can be considered to be excessive but it helps tighten financing conditions in the European economy," European Central Bank (ECB) policymaker Francois Villeroy de Galhau told German business newspaper Handelsblatt on Thursday, as reported by Reuters.

"So today, I don't think an additional increase in ECB rates is justified," Villeroy added