European Central Bank Committee: Inflation is under control, concerns over cooling labor market

Golden Ten Data on October 4, European Central Bank Governing Council Senteno said on Friday that the European labor market is beginning to cool, which is worrying, because it may lead to investment and rise below average. He also said that inflation in the eurozone was under control. Markets are betting that Europe’s Central Bank will accelerate the pace of rate cuts on 17 October, as inflation fell below 2% last month and the Eurozone is trying to avoid a recession. "Europe’s rise is at the heart of the problem… We are now starting to see the first concerns in the labour market. He said that European companies were creating 20 percent fewer job openings than two years ago, and that the number of new hires in companies was 10 percent lower than the highest level in the second quarter of 2022, “which is exactly when European Central Bank starts to raise interest rates.”