[Economist: Eurozone Services Sector Expands for Seven Consecutive Months, Inflation Pressure May Keep ECB on Hold] Jin10 News, January 6 – Dr. Cyrus de la Rubia, Chief Economist at Hamburg Commercial Bank, commented on the Eurozone PMI data, stating that the Eurozone services sector has grown for seven consecutive months. Although the pace of expansion slowed in December, the overall situation remains positive. Businesses have even significantly increased staffing levels, and the growth in new business indicates that the sector is still on a growth trajectory. Overall, the recovery of the services sector gained momentum in the fourth quarter, laying a solid foundation for entering the new year with confidence. European Central Bank (ECB) President Christine Lagarde stated during the mid-December interest rate press conference that the ECB will continue to closely monitor inflation in the services sector. This approach is entirely correct, as cost inflation in the sector rose again in December. This, in turn, means that wages, the largest cost item for most service providers, will continue to grow year-on-year at a rate above the long-term average. From the ECB's perspective, this is the most important reason why it has not further cut interest rates and currently seems to have no plans to do so.