Bank of France Denies Selling Debt Holdings After Left-Wing Criticism

The dispute is less about the balance sheet than about the credibility of central bank communication in a politicised fiscal environment. By tying portfolio shrinkage to market sales, critics conflate routine monetary-policy mechanics with disposals, and the Bank of France's offer to brief the finance committee is an attempt to move that debate onto technical ground. Whether lawmakers accept that framing, or keep treating the central bank as a fiscal actor, is the open question.