ECB’s Guindos Sees Wage Growth Slowing But Is Cagey on Rates

-- Increases in euro-area salaries are moderating but the European Central Bank can’t commit to a path for interest-rate cuts due to elevated uncertainty, Vice President Luis de Guindos said.China Considers Government Buying of Unsold Homes to Save Property Market

Speaking after presenting the ECB’s bi-annual Financial Stability Review, Guindos said salaries aren’t the only concern, also highlighting their interaction with productivity. “We aren’t wanting to be very explicit with scenarios after June, because the uncertainty is too high,” Spain’s Pablo Hernandez de Cos said Thursday in Madrid. Speaking in Lisbon, his Portuguese counterpart Mario Centeno simply said he’d like rates to fall gradually and for “some time.”“We have said very clearly that we are data-dependent and that we are going to have a meeting-by-meeting approach,” he said. “I think that this is the correct approach, this is the correct stance.

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