Labour market changes key to inflation – BIS’s Shin

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Pandemic-induced changes in labour markets are a key factor in determining whether inflation is short-lived or more persistent, said Hyun Song Shin on December 9.

The Bank for International Settlements’ head of research said this could present central banks with a “race against time” to prevent inflation expectations becoming unmoored.

Shin said similar trajectories in total hours worked masked important differences across countries. He highlighted a particular divide between the US, where

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