Bank of England’s Dhingra on inflation: „we’re not there at a wage-price-spiral point yet”

Swati Dhingra, a member of the Bank of England’s monetary policy committee, in an interview over the weekend: warned that higher interest rates could lead to a deeper and longer recession… „That’s what I think we should all be worried about .. will we Will tightening continue at the same pace end this in a longer and deeper recession? Dhingra voted last month to raise interest rates by 50 basis points, unlike most other MPC members who opted for 75 basis points, he reiterated his a less hawkish view in an interview: „A wage-price spiral would mean that wages should be above inflation higher” ” When Considering that real wages are decreasing, this is a sign that we are not yet at a point of the wage-price spiral.

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