Icelandic governor issues call to moderate wage demands
Central bank chief says country’s persistently high inflation can only be tackled through collective effort
The governor of the Central Bank of Iceland has called on the country’s workers to stop asking for above-average pay hikes.
In a speech on April 9 addressing the bank’s 65th annual meeting, Ásgeir Jónsson highlighted the problems that persistent wage growth had caused for the institution’s monetary policy committee.
Over the past five years, wages had risen by 7% per year, with real disposable incomes increasing by 4.6% on an annual basis, the governor said. He pointed out that Icelanders were
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: www.centralbanking.com/subscriptions
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Monetary Policy
Sama’s Al-Sayari on financial resilience and the future of the riyal
The Saudi Central Bank governor speaks with Christopher Jeffery about the Middle East conflict, the transformation of the Saudi economy, improving prudential oversight and continency planning, and the development of the fintech and tokenised ecosystem
Peru holds rates as inflation breaches target range
BCRP says impact of supply shocks, both domestic and international, will ‘gradually dissipate’
IMF’s Georgieva sees value in ‘waiting and watching’
Central banks should ‘step in firmly with rate hikes’ if expectations de-anchor, MD says
Kenya ends easing cycle with rates hold
Central bank adopts wait-and-see approach amid uncertainty over Iran conflict
BoT likely to hike rates if others do, says assistant governor
Don Nakornthab says Thailand’s low inflation means tightening would also come later than elsewhere
RBI holds rates amid uncertainty over Middle East conflict
Bank acknowledges risks to inflation and growth, but says India is well placed to withstand shocks
The evolution of central banks
Bank Negara Malaysia governor Abdul Rasheed Ghaffour writes that the roles and responsibilities of central banks are evolving in a changing landscape
Central banks face ‘double whammy’ from Iran war
Policy-makers will have to tackle impact of higher inflation and greater fiscal stimulus