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Macron's nominee for central bank faces crunch vote in increasingly ...
French Politics French Politics French Politics Emmanuel Moulin, candidate for governor of France's central bank, is set to face hearings before two parliamentary finance committees on Wednesday. Ahead of the 2027 presidential election, the procedure is no longer a mere formality. Lire en français Subscribers only On Wednesday, May 20, Emmanuel Moulin has two major appointments in French Parliament. President Emmanuel Macron has put his name forward for the role of governor of France's central bank, the Banque de France, and he is set to be heard by the finance committees of the Sénat, at 9 am, and then the Assemblée Nationale, at 11 am. After the hearings, the committee members will vote. If 60% of them, both committees combined, vote against his nomination, he will not be able to lead the institution. Like previous Banque de France governors, Moulin was selected due to his close ties to the president and government figures. He previously served as an adviser to former president Nicolas Sarkozy, then as a chief of staff to former finance minister Bruno Le Maire and former prime minister Gabriel Attal, and finally as chief of staff to Macron. Yet, such close ties to the presidency and former governments have increasingly become a liability. Recent nominees to other top jobs have seen their appointment either rejected or barely confirmed, despite the relatively high threshold of three-fifths of negative votes. You have 82.64% of this article left to read. The rest is for subscribers only.
French Socialists Oppose Moulin as Bank of France Head
May 19, 2026 at 11:16 AM UTCUpdated on May 19, 2026 at 1:43 PM UTCSocialist lawmakers will oppose Emmanuel Macron’s nominee for Bank of France governor, raising the risks of a political blow for the French president and uncertainty over the composition of the European Central Bank’s Governing Council.The proposal for Emmanuel Moulin to succeed outgoing head Francois Villeroy de Galhau has already drawn public criticism from far-right and far-left politicians, who object to a longtime Macron confidant taking on a role that will last for years after the president leaves office in 2027.
Lawmakers confirm Macron's pick to lead Bank of France
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Macron's central bank pick defends independence in confirmation hearing
By Leigh Thomas PARIS, May 20 (Reuters) – Emmanuel Moulin, President Emmanuel Macron’s pick to head the Bank of France and his former chief of staff, told lawmakers on Wednesday ahead of a knife-edge confirmation vote that he would run the central bank as someone independent and free of outside influence. Opposition parties have accused Macron of seeking to appoint allies who can wield influence well after he stands down following a presidential election next April that the far right has a chance of winning. A former banker and senior finance ministry official, Moulin has solid credentials as an experienced policymaker, but he faces a tight confirmation vote due to his links to Macron. Opponents on the finance committees of both houses could block his appointment if three-fifths of them vote against him. The votes in both houses will be added up and Moulin will be approved if the nays do not surpass 60% of the combined total. “I stand before you as a free man, a public servant who has served the state for 30 years and who is committed to carrying out his duties with complete independence and impartiality, both in relation to the executive branch and to private interests,” Moulin told lawmakers on the lower house’s finance committee. As governor of the 226-year-old Bank of France, Moulin would sit on the European Central Bank’s rate-setting governing council and be responsible for regulating French banks. JUNE ECB MEETING Moulin said that he could not currently say what his position would be at the ECB’s next rate-setting meeting in June as it depended on the economic data that would come in by then during a particularly turbulent period marked by energy market volatility. He added that any signs of inflation expectations becoming unanchored would be key and that policymakers would need to be particularly vigilant about underlying inflation, which strips out volatile prices like energy and food. Wage trends would be the third critical trend to monitor ahead of the June meeting to see if the current shock from the Middle East conflict was having a lasting effect on inflation, he said. “If the shock is persistent and large-scale, we will clearly need to react,” Moulin told senators. “If it is large-scale but not persistent, perhaps moderate action will be necessary if the shock is merely transitory.” Moulin said that he saw no need to change the ECB’s mandate to maintain price stability in euro zone countries, which he described as already sufficiently flex...
