"At this point in time, for the whole of the euro area, we
do not see this spiraling of inflation, wages, inflation, wages,
which would be very difficult, if we were to witness it,"
Lagarde said.
(Reporting by Balazs Koranyi, Editing by William Maclean)
FRANKFURT, Feb 21 (Reuters) - Euro zone wages are now
catching up after rapid inflation eroded their purchasing power
and there is no wage-price spiral underway, European Central
Bank President Christine Lagarde told Finnish broadcaster YLE on
Tuesday.
Lagarde said the ECB was monitoring wage growth "very, very
closely" because it is a key driver of inflation but the current
catch up process was quite normal.
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