Steel pay deal fuels inflation fears

An inflation-beating 5.2 per cent wage increase secured by German steelworkers on 20 February 2008 stoked fears that stubbornly high eurozone inflation pressures would prevent the European Central Bank from cutting interest rates in the near future.

Deutsche welle, 20.2.08: Strike Averted as German Steel Industry Agrees Wage Deal http://www.dw-world.de/dw/article/0,2144,3137997,00.html

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