Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Euro area wage growth slowed modestly in the three months to end-December, the European Central Bank's negotiated wage tracker showed on Tuesday.
Wage growth slowed to 4.46% q/q from 4.69% in the third quarter, the data showed. On an annual basis, wage growth in 2023 was 4.47%, up from 2.92% in 2022.
The ECB's Governing Council is focussing on wage growth as a key metric in discussions over whether to cut rates. While the direction of the latest move will be encouraging, many will still be nervous at the elevated level of growth. Q1 data will be released on May 23 -- after the April policy meeting but before June's. (See MNI SOURCES: ECB Cut Expectations Range From 50-100BP In 2024)
Source: ECB
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.