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Wage Increases From Now on Will Lead to Inflation
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"It is quite clear that now that we have the highest wages in Europe, if salary-related expenses are included, it is very likely that all wage increases from now on will not result in purchasing power but only in inflation and high interest rates." This is what Central Bank Governor Ásgeir Jónsson says.
·Reykjavík, Iceland
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The policy rate could rise further if the next collective bargaining agreement leads to larger wage increases, says Central Bank Governor Ásgeir Jónsson. He warns that large wage increases in a cooling economy and high interest rates could be the beginning of a hard landing.
·Reykjavík, Iceland
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