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The European Central Bank (ECB) expects wage pressures to slow down in 2024, despite recent data showing higher wage growth in Q1. ECB officials, including Villeroy and Schnabel, caution against overreacting to the data, emphasizing the persistence of inflation elements. Nagel highlights positive indicators for German growth in the second half of the year, with strong wage developments but anticipates a slowdown in wage growth in the coming months.
ECB'S NAGEL: CORE AND HEADLINE INFLATION ARE BOTH DECELERATING.
ECB'S MULLER: THE ECB MUST STAY CAUTIOUS AS PRICES CAN SURPRISE TO THE UPSIDE.
ECB'S MULLER: GDP REBOUND DOESN'T ENDANGER A DOWN-TREND IN PRICES.
ECB Nagel: Likelihood Of June Cut Is Winning Traction - German Economy Did Better Than Expected In Q1 - Seeing Positive Indicators For German Growth In Second Half Of The Year - Wage Developments Have Been Strong Private Consumption Set To Accelerate
🇩🇪 *NAGEL: GERMAN ECONOMY DID BETTER THAN EXPECTED IN 1Q - BBG *NAGEL: SEEING POSITIVE INDICATIONS FOR GERMAN GROWTH IN 2H *NAGEL: PRIVATE CONSUMPTION SET TO ACCELERATE IN 2H *NAGEL: WAGE DEVELOPMENTS HAVE BEEN STRONG *NAGEL: WAGE GROWTH WILL SLOW IN COMING MONTHS
ECB'S NAGEL: PRIVATE CONSUMPTION IS SET TO ACCELERATE IN 2H.
ECB'S NAGEL: I'M SEEING POSITIVE INDICATIONS FOR GERMAN GROWTH IN 2H.
ECB'S NAGEL: THE GERMAN ECONOMY DID BETTER THAN EXPECTED IN Q1.
🇪🇺#ECB'S SCHNBAEL: SOME ELEMENTS OF INFLATION PROVING PERSISTENT - BBG *ECB'S SCHNBAEL: SOME ELEMENTS OF INFLATION PROVING PERSISTENT *ECB'S SCHNABEL: WOULD CAUTION AGAINST MOVING TOO FAST ON RATES https://t.co/HCaeLQREJU
ECB'S SCHNBAEL: SOME ELEMENTS OF INFLATION PROVING PERSISTENT
ECB'S SCHNABEL: SOME ELEMENTS OF INFLATION ARE PROVING PERSISTENT.
PMIs in EU came all (but France) above expectations,solidly in expansion territory Relief from price paid, below expectations + EU salary survey data Q1 24 showed +4.7 Vs 4.5% in Q4 23 Most ECB members support Jun cut but casting several doubts on further cuts (but Villeroy)
ECBs Villeroy: Latest wage data was a bit above expectations but due to Germany https://t.co/aQMrzjxhXY
ECB's Villeroy comments on wage growth exceeding expectations, warns against overreaction to recent German data.
ECB'S VILLEROY: THE ECB REMAINS CONFIDENT IN THE DISINFLATIONARY PROCESS.
ECB'S VILLEROY: THE LATEST WAGE DATA WAS A BIT ABOVE EXPECTATIONS BUT DUE TO GERMANY, WE SHOULD NOT OVERINTERPRET THE DATA.
ECB Survey Points To Higher Wage Growth In Q1 https://t.co/ORDnl4jxua
WAGE PRESSURES LOOK SET TO DECELERATE IN 2024 - ECB.