2 For more detailed discussion of the Phillips curve and low inflation in the euro area economy, see Praet, P.  “Maintaining price stability in the euro area”, remarks at the 15th Handelsblatt Jahrestagung “Zukunftstrategien für Sparkassen und Landesbanken”, Berlin, 2 February 2017. 3 For further discussion, see “Recent wage trends in the euro area”, Box 2, ECB Economic Bulletin 2016/03.
4 See, for example, “Wage dynamics amid high euro-area unemployment”, Deutsche Bundesbank Monthly  Report, December 2016. 3/3  BIS central bankers' speeches