PARIS, (Reuters) – Recent inflation rises make an end to extraordinary monetary policies more important, Francois Villeroyde Galhau of the Bank of France said Tuesday.

Inflation in France rose faster than expected by private economists, to 5.8%. This was preliminary EU-harmonised data that were released Tuesday.

Villeroy, who also chairs France’s ACPR financial regulator said that “the latest inflation numbers for May in France confirm the increase which we expected” and called for a progressive and resolute Monetary Policy Normalization.

Villeroy said that the European Central Bank’s governor council would take a decision about normalization next week. Villeroy also stated that the rise in interest rates should be good for the profitability of French banks and their net margins.