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Bailey won't use the phrase "wage-price spiral"

BOE
  • Bailey says he will not use the phrase "wage-price spiral" when asked about it. The hard message is we are facing a squeeze on living standards this year. But it is necessary to raise interest rates as there is a risk domestic price increases will get more entrenched.
  • Broadbent points to the tight labour market and the Agents saying that firms are finding it difficult to find staff.

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