Don't ask for a big pay rise, warns Bank of England boss

[brooklynite]

BBC

Workers should not ask for big pay rises, to try and stop prices rising out of control, the Bank of England governor has told the BBC.

Prices are expected to climb faster than pay, putting the biggest squeeze on household finances in decades.

Andrew Bailey said the Bank raised rates to 0.5% from 0.25% to prevent rising prices becoming "ingrained".

Asked if the Bank was also implicitly asking workers not to demand big pay rises, he said: "Broadly, yes".

[oioioi]

1. The disgusting hypocrisy and unmitigated gall

After a decade running a artificially low interest rates and flooding the money supply so the City could make bank
Now it's up to workers "collectively" to accept lower real wages so asset prices don't collapse in real terms.

Thank you Thatcher.

ETA this prick makes $680K a year.