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ECB: Wage increases remain compatible with monetary policy — Mario Centeno

The head of monetary policy at the European Central Bank (ECB), Mario Centeno, He said on Monday that the eurozone wage increase remains compatible with monetary policy, adding that they are not seeing a second-round effect on wage-setting, Reuters reported.

“We have not seen a disanchoring of inflation expectations,” Centeno also reiterated, pointing out that the ECB has the tools to act “however” before the banks.

Turning to the outlook for monetary policy, he said the ECB could do more with less amid global tightening, adding that the magnitude of the rate hike increase would depend on the data.

Market reaction

The EUR/USD pair continues to rise in the second half of trading on Monday and was last seen up 0.3% on the day to 1.0790.

Source: Fx Street

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