Commerzbank economist Joerg Kraemer said that given the current sharp rise in wages, it is risky for the ECB to speed up the pace of interest rate cuts. The weakening of leading economic indicators, combined with falling energy-related inflation, seems quite certain that the ECB will further relax monetary policy at its next meeting in December. However, wage increases are still far above the ECB's inflation target and may push up potential inflation again in the medium term. In this regard, it is risky to cut interest rates today, only five weeks after the last rate cut.

Commerzbank economist Joerg Kraemer said that given the current sharp rise in wages, it is risky for the ECB to speed up the pace of interest rate cuts. The weakening of leading economic indicators, combined with falling energy-related inflation, seems quite certain that the ECB will further relax monetary policy at its next meeting in December. However, wage increases are still far above the ECB's inflation target and may push up potential inflation again in the medium term. In this regard, it is risky to cut interest rates today, only five weeks after the last rate cut.