Bailey seeks to clarify controversial comments on wage restraint

Bank of England governor Andrew Bailey sought to clarify his position on workers demanding higher wages today (February 23), after earlier comments he made were widely criticised.

Firms need to limit the extent of their price rises as well as workers exercising “restraint” over their pay demands if the UK is to avoid more persistent high inflation, he said.

“There is very clearly an upside risk [to inflation] now, and that risk comes from the second-round effects,” Bailey said during a hearing

You are currently unable to copy this content. Please contact [email protected] to find out more.

by :

Source link

Capital Media

Read Previous

A SWIFT ban on Russia could be disastrous for European and global banks

Read Next

Small-scale gold miners in DRC challenge the view that they can’t cut it

%d bloggers like this: