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BoE’s Bailey says wage restraint key to keeping grip on inflation -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: Andrew Bailey, the Governor of Bank of England, speaks during a news conference in London at Bank of England on February 3, 2022. REUTERS via Dan Kitwood/Pool

LONDON, (Reuters) – Andrew Bailey, Bank of England Governor said that inflation – which is already at a 30 year high in Britain — could get out of control without any restraints on wage rises.

Bailey stated that Bailey was afraid of losing control in the matter in a BBC radio interview.

We are trying to find some clear control in our bargaining processes, because it is possible, like I said, that things will spiral out of control. Although it is not right now, it will.

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