Rising inflation and winding down of Covid likely to weigh on central bank’s decision makers
Inflation could be about to run out of control, spurring workers to demand higher wages to protect their living standards. A self-perpetuating spiral of higher wages leading to higher inflation is the fear that stalks all central banks. There is also a growing sense among some policymakers that the pandemic emergency is over, and so the emergency cut in interest rates from 0.75% in March 2020 should be reversed.
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