Because our different wage indicators are all volatile and sometimes send conflicting signals, the Bank developed a wage measure to help us better capture the trend: the wage-common.3 According to this measure, wage growth has strengthened considerably from its low in mid-2016, reaching about 2.6 per cent in the first quarter of this year.
The continuation of the current low level of government bond spreads cannot be taken for granted, and countries efforts towards sustainable fiscal positions should thus continue unabated.