European Economics

European Data Response

15 June, 2018

Euro-zone Labour Costs (Q1) & Goods Trade (Apr.)

The pick-up in euro-zone wage growth in Q1 is another sign that the economy is moving in the right direction. Over the coming years, we think wage growth will continue to rise, but only gradually. So we still think that the ECB will wait until September 2019 to raise rates, consistent with its new guidance.

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