Price pressures in the services sector are broad-based and globalPass-through of higher wages to producer prices is stronger in the services sectorMomentum in services remains high and above levels consistent with price stabilityMedium-term inflation projections often clustered around 2% targetWage growth expected to slow down as past price shocks unwindPrivate sector forecasts suggest conditions for soft landing remain in placeSigns that transmission of monetary policy tightening is weakening
It’s just a general take on the economy and what’s currently playing out in the euro area mostly. There’s nothing new to add to the ongoing narrative surrounding the ECB’s policy outlook.
This article was written by Justin Low at www.forexlive.com.
