No policy change likely for months
Markets see first rate cut in April or June
ECB awaits key wage data before rate cuts
Decision at 1315 GMT, press conference at 1345 GMT

FRANKFURT, Jan 25 Reuters The European Central Bank will keep interest rates unchanged at a record high on Thursday and is likely to keep pushing back on investor bets for aggressive policy easing this spring, despite dismal economic growth and a rapid slowdown in inflation.

The ECB ended its quickest rate hiking cycle in September but has been adamant that even discussing a reversal would be premature, since price pressures have yet to be fully extinguished and crucial wage talks remain ongoing.

Investors, however, are betting that the ECB is getting it wrong on both growth and inflation, and will be forced to make an aboutface sooner rather than later.

Such a pivot will not be on the agenda for now, especially after the central bank rolled out its top brass last week to convince markets that a long plateau in rates was ahead.

ECB President Christine Lagarde is likely to argue that underlying price pressures are still strong, particularly for services, while risks remain abundant from pending wage deals to geopolitical tensions, including the Red Sea blockade.

Lagarde and chief economist Philip Lane along with key Governing Council members, have repeatedly pointed to firstquarter wage settlements, for which figures become available in May, as a relevant gauge. That has been seen by some as a…