In an economic bulletin article, ECB said, “Looking ahead, wage growth over the next few quarters is expected to be very strong compared with historical patterns.”
“This reflects robust labour markets that so far have not been substantially affected by the slowing of the economy, increases in national minimum wages and some catch-up between wages and high rates of inflation.”
“Beyond the near term, the expected economic slowdown in the euro area and uncertainty about the economic outlook are likely to put downward pressure on wage growth.”
