ECB to review staff wages after union protest

Central bank will formally review pay after works council rejects below-inflation rise

The European Central Bank
Annabel Jeffery

The European Central Bank will carry out a formal review of this year’s staff pay increase, after the union representing employees rejected a below-inflation figure.

The ECB gave its staff a pay increase of 4.07% from January, well below eurozone inflation. In April, the bloc’s year-on-year inflation reached 7%, down from a peak of 10.6% in October but still above the salary increase.

The central bank will carry out only the second formal review of one of its salary offers after a request from

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