ECB's de Cos: If inflationary pressures persist, they are more likely to feed into wage negotiations

European Central Bank (ECB) Governing Council member Pablo Hernandez de Cos said on Monday that if inflationary pressures persist, they are likely to feed into wage negotiations and trigger second-round and indirect effects on inflation, reported Reuters. These second-round effects have not yet materialised, with the latest data on wage settlements pointing to employees bearing a considerable loss of purchasing power in recent quarters.