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French central bank rebuffs ‘helicopter money’ suggestion

France’s central bank governor rejected on Wednesday a think tank’s proposal that the European Central bank could make direct cash transfers to households to help meet its inflation target.

France’s Economic Analysis Council, an independent think tank attached to the prime minister’s office, suggested in a report earlier on Wednesday that the ECB could conduct “helicopter money” payments as a last resort to boost inflation.

“Helicopter money, which has never been implemented and would be complex in practice, does not seem to us to be a good idea,” Bank of France Governor Francois Villeroy de Galhau told Senators in response to the proposal.
Source: Reuters (Reporting by Leigh Thomas; Editing by Jon Boyle)

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