Economics
Lagarde Spurns ECB Staff Plea for Pay Rises Linked to Prices
- Euro-zone inflation is far in excess of employees’ 2022 raise
- Salaries in focus at central banks from U.K. to Brazil
Christine Lagarde
Photographer: Alex Kraus/BloombergThis article is for subscribers only.
European Central Bank President Christine Lagarde rejected calls by staff to link salary increases to inflation, which has hit a record in the euro area and is far in excess of the minimum pay boost handed out this year.
In an email to employees on May 5, seen by Bloomberg, Lagarde said she understood that some were “disappointed” by this year’s rise but insisted that future adjustments must be “reasonable.”