Speaking during an online conference, Villeroy de Galhau also stated that the European Central Bank would maintain an accommodative monetary policy "for as long as necessary."
On Thursday, the ECB left interest rates and its Pandemic Emergency Purchase Program unchanged.
President of the European Central Bank, Christine Lagarde, revealed on Thursday that the Eurozone inflation is expected to increase in the upcoming months and become volatile for some time.
Annual inflation in the euro area has been revised up from 1.0 percent to 1.5 percent for this year, up to 1.2 percent in 2022, while the outlook for 2023 remained unchanged at 1.4 percent. Overall, the inflation will remain under the targeted 2 percent for the time being.
Following the ECB's monetary policy decision, Lagarde commented on the Eurozone GDP outlook and short-term challenges ahead.