ECB sees gradual decline in wage growth this year: Schnabel

FRANKFURT (Reuters) – The euro zone labour market remains resilient but some moderation in wage growth is still likely and a soft landing of the economy remains a possibility, European Central Bank board member Isabel Schnabel said on Wednesday.

“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,” Schnabel said on social media platform X. “As inflation falls, we continue to expect a gradual decline in wage growth in 2024.”

(Reporting by Balazs Koranyi; Editing by Alison Williams)