The Bank of England governor has recommended workers not to demand pay raises as the country battles decades-high inflation, and wage increases as such could result in a wage-price spiral that will end up hurting the economy even more. “I’m not saying nobody gets a pay rise, don’t get me wrong, but I think, what…
UK Central Bank Chief Urges People Not to Ask for Raises to Fight Inflation
February 4, 2022
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Bank of England Will Have to Act to Contain Inflation: Bailey
LONDON—Bank of England Governor Andrew Bailey sent a fresh signal on Sunday that the British central bank is gearing up to raise interest rates for the first time since the onset of the coronavirus crisis as inflation risks mount. Bailey said he continued to believe that the recent jump in inflation would be temporary, but…
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