ECB’s Lane: We’re confident that wage growth is returning to normal 0 (0)

  • It is desirable, inescapable that we do have several years of wage increases above normal
  • But what we need to make sure is that it returns to normal
  • And I would say we’re confident that it is on track
  • If that assessment is confirmed, we an start to look to reverse the rate hikes we have made previously

This isn’t anything new. The ECB would just like confirmation from the wages data in May before being more explicit about their conviction to get to the first rate cut in June.

This article was written by Justin Low at www.forexlive.com.

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UK March CBI retailing reported sales +2 vs -7 prior 0 (0)

That’s the first positive reading in ten months for the UK retail sales balance. However, the expected retail sales for April is seen at -25 as compared to -15 in March. That shows that retailers are expecting the decline in sales to resume next month. CBI notes that:

„The stabilisation of retail sales in March should give some hope that the sector’s downturn is bottoming out. The earlier timing of Easter will likely mean weaker year-on-year sales in April, but easing inflation should support retail spending going forward.“

This article was written by Justin Low at www.forexlive.com.

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