Central Banks
ECB’s Muller Says Wage Jump Doesn’t Derail Slowdown in Inflation
- Estonian official won’t be drawn on rate path after June’s cut
- Pickup in euro-zone economy not crucial for prices, he says
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The jump in a key gauge of euro-zone pay doesn’t derail the ongoing retreat in inflation and won’t stop the European Central Bank from lowering interest rates in June, Governing Council member Madis Muller said.
In an interview Friday in Reykjavik, Iceland, Muller highlighted that this week’s first-quarter data on negotiated wages included some one-off payments that produced the “somewhat higher” number.