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ECB: Lagarde: Negotiated Wage Growth To Remain High and Volatile

ECB

On current inflation conditions, labour costs and inflation expectations, Lagarde notes:

  • "Most measures of underlying inflation were broadly unchanged in July. Negotiated wage growth will remain high and volatile through year end given the role of one off payments in some countries and the staggered nature of wage adjustments. The overall growth in labour cost is moderating".
  • "Despite weak productivity, unit labour cost grew less strong in the second quarter. Staff expect ULC growth to continue to declining over the projection horizon owing to lower wage growth and a recovery in productivity. Profits continue to partially offset the inflation impact of high labour costs".
  • "Most measures of longer term inflation expectations stand around 2% and market based measures have fallen closer to that level since the July meeting".
BundesbankCentral Bank NewsFixed Income BulletsCEEMEAEurozoneGermanyBulletGlobalEuropean Central BankForeign Exchange BulletsRegionMarkets
BundesbankCentral Bank NewsFixed Income BulletsCEEMEAEurozoneGermanyBulletGlobalEuropean Central BankForeign Exchange BulletsRegionMarkets

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