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28th Jun 2023 14:34Eurozone, Daily Monitor

  • The ECB is pivoting to unit labour costs and wages as key policy variables; that’s dangerous business.
  • Our near-term forecasts for unit labour costs warn that the ECB is at risk of a policy mistake.
  • Italian inflation fell sharply in June, but data today will show that German core inflation jumped.

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Keywords for: 29 June 2023 Eurozone Monitor

Pantheon Macro, Pantheon Macroeconomics, independent macro research, independent research, ian shepherdson, economic intelligence