"It would be unfortunate if people base their wage demands on the actual increases or past increases in food prices. That is a recipe for disaster" he said, but added that for labour unions to exercise restraint in the increases they are asking for, they must be confident that inflation is being controlled.
"We need to demonstrate that inflation is c
- Central banks may be thinking wrongly about inflation – Borio
- European Commission announces supervisory agency reforms
- Bank of Russia will be able to handle fallout from failing banks, analysts say
- Riksbank outlines three visions of ‘e-krona’
- All central banks may have to consider crypto-currencies – BIS