Revised figures this week showed the economy in the 19-nation club grew by a better-than-expected 2.2 percent between April and June after countries relaxed their virus restrictions
Villeroy, who is also governor of the Bank of France, said there was no urgency to decide on the future of the Pandemic Emergency Purchase Programme at the ECB's September meeting because unlike the US Federal Reserve
An improving US labour market and speculation that the US Federal Reserve could soon start to unwind its bond buying stimulus has pushed up US and European bond yields
The pan-European STOXX 600 index rallied 1.1pc to hit a record high of 461.75, and marked a 1.5pc weekly rise - its biggest weekly gain since early May.
Financial markets were volatile earlier in the week as sentiment over the global economic outlook swung with each new Delta headline, although the prevailing mood was improving by late Friday.
Three-month copper on the London Metal Exchange (LME) had climbed 1pc to $9,534.50 a tonne by 1615 GMT, on track to finish the week in positive territory.
Among its conclusions, it said longer periods of ultra-low inflation such as the current one require "especially forceful or persistent" support -- an ambiguous formulation that is proving difficult to convert into actual policy.