ECB's Galhau says market reaction excessive to latest measures

December 16, 2015 8:54 AM

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PARIS Dec 16 European Central Bank Governing Council member Francois Villeroy de Galhau said on Wednesday that the measures announced by the ECB on Dec. 3, including 360 billion euros ($394 billion) of additional asset buying, were sufficiently accommodative, and that market reaction to the policy measure was excessive.

"These large amounts show how the markets' immediate reaction was excessive," de Galhau said at a conference on competitiveness at the Bank of France, of which he is also governor.

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