Governing Council member, Mario Centeno stated that the European Central Bank does not necessarily need complete visibility into wage movements in the upcoming months to formulate monetary policy.

“Its not necessary for us to wait until May to make decisions,” Centeno stated in an interview with Econostream media.

“I don’t see any indication that wages will put further pressure on prices or second-round effects on wages have materialized or will materialise.”

Recall that in June 2022, European Central Bank raised rates to the highest level.

The governing council member is informing the public in an interview with Econostream of the effect of wage hike in 2024.