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By Bert Colijn, Senior Economist, Eurozone; Carsten Brzeski, Global Head of Macro
The ECB has frequently emphasised that it wants to have a clear view of how wage growth develops in the first half of 2024 before giving
Eurozone Wage Growth Is Set To Peak Soon
Summary
- Slowing inflation, a cooling labour market, and lower expected corporate revenues make a peak in wage growth before the middle of next year likely.
- While the European Central Bank waits for clarity, this should open the door to earlier rate cuts than currently expected.
- Retail trade workers in Berlin have been on strike this month, demanding higher wages to cover the increased cost of living.
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