Economics
Wage Pickup Will Allow ECB to Hike Early Next Year, ING Says
- Economists predict pay gains of about 3.5% in 2022 and 2023
- No signs of second-round effects from inflation spike yet
An employee assembles components inside an electric vehicle charging station near Treuchtlingen, Germany.
Photographer: Alex Kraus/BloombergThis article is for subscribers only.
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A sharp increase in worker compensation will help the European Central Bank justify raising interest rates in early 2023, according to economists at ING Group.