(PARIS) If pay rises have been modest for years, why is the European Central Bank (ECB) talking up the risks of a 'wage-price spiral' reminiscent of recession and the birth of mass unemployment in the 1970s? As the ECB increased interest rates on Thursday, the answer looked less about evidence of serious wage-surge and more about proving that the ECB means business when it pledges to prevent inflation from getting out of hand in the longer term. ...
Anytime
