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10 Jan 2024

ECB's Schnabel: As inflation falls, we expect gradual decline in wage growth in 2024

"The drop in unemployment to a historical low confirms continued strong resilience in labour markets, which is broadly in line with the December 2023 staff projections," European Central Bank (ECB) executive board member Isabel Schnabel said on social media Platform X on Monday.

"As inflation falls, we continue to expect a gradual decline in wage growth in 2024," Schnabel added in response to a question about wage inflation.

Market reaction

EUR/USD showed no immediate reaction to these comments and was last seen gaining 0.06% on the day at 1.0938.

Jan 10, 2024

AUD/USD surrenders some gains as focus shifts to US Inflation data

The AUD/USD pair struggles to sustain above the round-level support of 0.6700 in the late European session.

BoE's Bailey: Important to return UK inflation to target

While testifying before the UK Treasury Select Committee, Bank of England (BoE) Governor Andrew Bailey reiterated that it's important to return the UK to the inflation target.