Finance

BoE’s Haldane says sees some wage-price spiral inflation risk By Reuters

© Reuters. FILE PHOTO: The Chief Economist of the Bank of England, Andy Haldane, listens from the audience at an event at the Bank of England in the City of London, London, Britain April 27, 2018. REUTERS/Toby Melville

LONDON (Reuters) – Bank of England Chief Economist Andy Haldane has warned there is a chance that cost pressures faced by British companies lead to high prices that become embedded in pay demands, in an echo of inflationary wage-price spirals of previous decades.

“There’s again a chance that those price pressures could get embedded in pay packets and then we have something closer – not on the same scale remotely – but something closer to the sort of ‘wagey-pricey’ spiral that we’ve seen at times in the past, the Seventies and Eighties,” Haldane said in an online interview https://www.youtube.com/watch?v=60JMJcVuVN4 with the Centre for the Study of Financial Innovation.

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