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Wunsch States ECB Can Cut Before Wages Drop To 3%

ECB

Comments from ECB Governing Council Member Wunsch have crossed the wires. The Belgian central bank chief stated that the ECB can act before wage inflation data drops to 3% (RTRS).

  • He added: “We’re getting closer to a moment where we can start basically acting on the fact that inflation has gone down, is moving in the right direction,” (BBG). Still there was a cautious tone, reflecting still elevated services inflation.
  • These comments followed earlier remarks from board member Villeroy, which indicated there was broad agreement to cut rates in spring. Villeroy stated: “Since our Governing Council meeting last week, there’s a very broad agreement to cut rates in the spring, bearing in mind that spring lasts until June 21,” (BBG). See this link for more details.
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