Iceland’s new macroeconomic council faces up to wage challenges
Council hopes to rein in wage demands
Iceland's macroeconomic council has met for the first time, in an effort to bring a measure of control to wage demands, with the minutes of its meeting published on July 7.
The council brings together the prime minister, minister of finance, central bank governor and labour market representatives to better co-ordinate policy. It held its first meeting on June 8 and plans to continue with at least two meetings a year.
A key aim of the council is to rein in wage demands, bringing them more in line
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