ECB's Villeroy: ECB likely to decide on the next change in its stimulus in the fall

Governing Council member Francois Villeroy said over the weekend that Autumn will be the right time to further define ECB's stimulus program. 

As Bloomberg reports, quoting Villeroy on Bloomberg Television, "the European Central Bank is likely to decide on the next change in its stimulus settings in the fall, when it will continue the process of tweaking its measures to reflect the euro area’s upturn."

Villeroy's words suggest that there will be no actions at the July 20 ECB meeting.