Bank of England Governor doubles down on comments that saw him labelled as being out of touch
Andrew Bailey has said he was “right” to tell people not to ask for a big pay rise despite soaring inflation and the biggest drop in living standards in decades.
The Bank of England Governor has doubled down on controversial comments made last year when he called on Britons to show wage restraint to help keep prices under control.
This drew widespread criticism from unions and economists at the time, who claimed Mr Bailey was out of touch.
However, when asked in a recent interview with Prospect magazine if the attacks were justified, he defended his view that higher wages would fuel inflation: “I think it’s easy sometimes to sit in sort of your own privacy and say ‘Well, I was right, wasn’t I?'”