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"Well, the Q1 reading was largely impacted by a one-off from Germany and that was also confirmed by the Bundesbank earlier this week here. Given the circumstances, this should allow the ECB to breathe easier as wage pressures are beginning to turn around now. This just further solidifies the narrative for a rate cut next month and tees up the potential for more in the final quarter of the year."
<https://www.forexlive.com/news/eurozone-wages-slow-down-in-q2-after-running-hot-in-the-previous-quarter-20240822/>