Accommodative ECB policy still needed - ECB's Villeroy

French Central Bank Chief and European Central Bank Governing Council member Francois Villeroy de Galhau, while speaking in Frankfurt, was noted saying that ECB policy is working and making progress towards its objective.

Key quotes:

   •   Clearly progressing toward inflation goal
   •   Confident that headline and core inflation will converge, be close to target in 2019
   •   ECB has warded off "the mortal danger of deflation"
   •   Clearly not the time for ECB to stop pursuing accommodative policies
   •   Governing council takes pragmatic approach, debate not predetermined
   •   French economic outlook improving despite uncertainty