The ECB is continuing to monitor this space in hopes that wage pressures are continuing to moderate after having risen back in 2023. The latest figure here definitely keeps policy in check, with the ECB already seen pausing through the summer.
As a whole for this year though, the ECB wage tracker forecast is estimating wage pressures to be at 3.2%. So, we'll see how that plays out later in Q3 and Q4 this year.
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