Eurozone wages accelerated growth in the second quarter, supporting the European Central Bank's pause on interest rate cuts
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Wage growth in the Eurozone accelerated in the second quarter, reaching 4%, up from 2.5% in the first quarter. This growth has prompted the European Central Bank to maintain a cautious stance on interest rate cuts, with expectations that future wage pressures will ease, helping to reduce inflation in the services sector. Despite a significant increase in wages in Germany, a decline is expected in the future. The market generally anticipates that the European Central Bank will keep the key deposit rate unchanged at 2% during the September meeting, marking a pause in rate-cutting actions
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