- Will only get key price pressure data in Q2, then only we can "contemplate a cut in interest rates"
- Price outlook is not yet clear enough
- Some setbacks on inflation may be possible
The Q4 2023 wages data was released earlier this week here. But as mentioned at the time, policymakers are likely to want to wait on the Q1 2024 data - which will only be out in May - before proceeding with rate cuts. And Nagel's comments serve to reaffirm that sentiment.