Central Banks
Global Central Banks Preaching on Pay Are Enforcing Squeeze Too
- Pay increases for staff don’t compensate for inflation
- BOE union agreed restrained deal, governor won’t take raise
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Central bankers trying to ensure that surging consumer prices don’t feed yet more inflation are doing what they can to keep their own houses in order.
For staff working for US Federal Reserve Chair Jerome Powell, his euro-zone counterpart Christine Lagarde and their global peers, annual pay adjustments can’t avoid the impact of a once-in-a-generation cost-of-living shock.