ECB'S VILLEROY: INFLATION - AND RELATEDLY AGES - REMAINS WELL UNDER CONTROL INCREASES IN US TARIFFS, THE EXTENT OF WHICH IS STILL UNCERTAIN, ARE NOT EXPECTED TO CAUSE INFLATION TO RISE, WHILE THE APPRECIATION OF THE EURO IS HAVING A SIGNIFICANT DISINFLATIONARY EFFECT IT IS THEREFORE IMPORTANT TO REMAIN COMPLETELYOPEN ABOUT FUTURE MONETARY POLICY DECISIONS MORE THAN EVER, IN A VOLATILE ENVIRONMENT, AGILE PRAGMATISM IN LIGHT OF DATA AND FORECASTS IS OF THE ESSENCE