Portugal cbank warns govt on wages, inflation

Portugal's central bank on Jan. 25 delivered a slap on the wrist to the Socialistgovernment for raising state sector wages too much, saying itposed a risk to inflation. "The main risk to inflation forecasts comes from salariesand it would be extremely negative for the Portuguese economy ifthey accelerated in 2001," the Bank of Portugal said in aneconomic report.

"In this respect, the rise paid to state administrationworkers constitutes a risk," it said, referring to the 3.7percent the governme

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