GBAF Logo
Global Banking & Finance Awards® 2026 Nominations open, free to enter Nominate now →
ECB's Rehn says wage growth remains moderate, no second-round effects - Finance news and analysis from Global Banking & Finance Review
Finance

ECB's Rehn says wage growth remains moderate, no second-round effects

Published by Global Banking & Finance Review

Posted on August 19, 2026

1 min read

· Last updated: August 19, 2026

Add as preferred source on Google
Finance Banking European Central Bank Markets

ECB's Olli Rehn: Wage Growth Moderate, No Clear Second-Round Effects Seen

ECB Policy Update and Wage Growth Outlook

Current Assessment of Wage Growth

STOCKHOLM, Aug 19 (Reuters) - European Central Bank policymaker Olli Rehn said on Wednesday that wage growth and the wage outlook have remained moderate, with no clear signs of second-round effects.

Importance of Anchoring Inflation Expectations

"Keeping inflation expectations anchored will be essential to ensure this remains the case," Rehn, the governor of Finland's central bank, said in the written copy of a speech.

Upcoming ECB Monetary Policy Announcement

The ECB's next monetary policy announcement is scheduled for September 10.

Reporting and Editorial Credits

(Reporting by Anna Ringstrom, editing by Terje Solsvik)

Key Takeaways

  • Wage growth and outlook remain moderate, with no signs yet of wage–price spiral or second-round effects, according to Olli Rehn (ecb.europa.eu).
  • The ECB continues to rely on its wage tracker, surveys, and Compensation per Employee data to monitor wage dynamics and inflation expectations (ecb.europa.eu).
  • ECB policymaking remains data-dependent and meeting-by-meeting, with the next policy announcement scheduled for September 10, and any response dependent on incoming data and whether inflation expectations remain anchored (ecb.europa.eu).

References

Frequently Asked Questions

What did Olli Rehn say about wage growth in the Eurozone?
Olli Rehn stated that wage growth and the wage outlook have remained moderate in the Eurozone.
Are there any signs of second-round effects according to the ECB?
No, Olli Rehn indicated there are no clear signs of second-round effects.
Why is it important to keep inflation expectations anchored?
Keeping inflation expectations anchored is essential to prevent unwanted wage and price spirals.
When is the next ECB monetary policy announcement scheduled?
The next ECB monetary policy announcement is scheduled for September 10.

Tags

Related Articles

Image for EFG sells UK wealth management business Harris Allday to Canaccord

EFG sells UK wealth management business Harris Allday to Canaccord

Image for UK's Pinewood Technologies​ to go private in $739 million Ridgeview deal

UK's Pinewood Technologies​ to go private in $739 million Ridgeview deal

Image for MPS CEO weights Banco BPM, Banca Generali bids to fend off Intesa, paper reports

MPS CEO weights Banco BPM, Banca Generali bids to fend off Intesa, paper reports

Image for Rhine levels still near record lows, disrupting transport

Rhine levels still near record lows, disrupting transport

Image for Bond selloff slows, oil climbs further

Bond selloff slows, oil climbs further

Image for Britain's energy price cap to hit three-year high in October, Cornwall Insight says

Britain's energy price cap to hit three-year high in October, Cornwall Insight says

More from Finance

Explore more articles in the Finance category

Image for Dollar softens as bond market steadies ahead of Fed minutes
Dollar softens as bond market steadies ahead of Fed minutes
Image for Oil hits three-week high on uncertainty over Hormuz
Oil hits three-week high on uncertainty over Hormuz
Image for Euro zone current account surplus widens in June
Euro zone current account surplus widens in June
Image for Soft drinks bolster Carlsberg after first-half miss 
Soft drinks bolster Carlsberg after first-half miss 
Image for China's Chery Automobile to set up UK research centre
China's Chery Automobile to set up UK research centre
Image for UK inflation picks up after July surge in household energy bills
UK inflation picks up after July surge in household energy bills
Image for China urges respect for digital sovereignty in AI race
China urges respect for digital sovereignty in AI race
Image for Exclusive-British data group Quantexa exploring UK or US IPO
Exclusive-British data group Quantexa exploring UK or US IPO
Image for Munich Re to acquire US cyber insurance provider At-Bay for $575 million
Munich Re to acquire US cyber insurance provider At-Bay for $575 million
Image for UK regulator investigates Trainline and Virgin Atlantic over pricing
UK regulator investigates Trainline and Virgin Atlantic over pricing
Image for Sterling holds firm after UK inflation data offers little surprise
Sterling holds firm after UK inflation data offers little surprise
Image for UK's Smith+Nephew CFO John Rogers to step down for external role
UK's Smith+Nephew CFO John Rogers to step down for external role
View All Finance Posts