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ECB’s Lagarde Says Wage Data Are ‘Critically Important’
European Central Bank President Christine Lagarde declined to give a timeline for interest-rate cuts but emphasized that wage data will be vital in deciding when to begin monetary easing. The comments suggest a first reduction in borrowing costs will only be feasible toward mid-2024 — later than the April meeting that markets are fully pricing. “We are not there yet” on inflation, Lagarde told CNN in an interview broadcast Tuesday. “We need all sorts of data, but one of which is critically important — it’s the data concerning wages.” Those figures aren’t due until after officials gather on April ... (full story)