December 9, 2023

Bank of England Governor Andrew Bailey today (Feb 23) sought to clarify his stance on workers demanding higher wages after comments he was widely criticized for.

He said companies needed to limit the extent to which prices rose and workers demanded “restraint” from their pay if the UK was to avoid a more persistent period of high inflation.

“There’s clearly an upside risk (to inflation) now, and that risk comes from second-round effects,” Bailey told the hearing