Joerg Kraemer, an economist at Deutsche Bank, said that given the current significant increase in wages, it is risky for the European Central Bank to accelerate the pace of interest rate cuts. The weakening of leading economic indicators, coupled with a decrease in energy related inflation, seems quite certain that the European Central Bank will further relax monetary policy at its next meeting in December. However, salary increases are still far above the European Central Bank's inflation target and may push up potential inflation again in the medium term. In this regard, it is risky to cut interest rates today, just five weeks after the last one. @esusat