The European Central Bank is on track to bring inflation in the eurozone back to its 2% target, and has room to lower its key interest rate as growth slows amid higher U.S. tariffs, the head of the Bank of France said Monday.

In a radio interview, Francois Villeroy de Galhau also said that while slower economic growth in the U.S. as a result of higher tariffs is a blow, it also presents Europe with an opportunity to become an anchor of stability for the global economy.