ECB Chief Economist Philip Lane, in a podcast published today, conveyed a sense of confidence among policymakers regarding wage growth trends. Lane articulated that policymakers are “confident” that wages growth is “on track” to return to normal.
“If this assessment is confirmed, then we will start looking more closely at reversing some of the rate increases we’ve made,” he added.
Adding to the conversation, Governing Council member Fabio Panetta addressed an audience at a separate event, underscoring the feasibility of a rate cut given the current inflation trend.
“The consensus emerging – especially in recent weeks – within the ECB governing council points in this direction,” Panetta noted.
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