Friday, February 20, 2026 at 10:42 AM
Wage increases in the eurozone slowed last year, a sign that inflation is set to remain around the European Central Bank’s target this year.
The result—combined with slowing wage growth—provides further incentive for the BOE to cut its key rate next month.
The reading increases the chances of a rate cut by the Bank of England when policymakers next meet in March.
Private-sector activity in Europe expanded at a stronger pace than anticipated in February, driven by a rebound in industry.
Sterling extended its losses to reach a four-week low against the euro after weak U.K. jobs data boosted the prospect of another interest-rate cut as soon as March.
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