Labour market changes key to inflation – BIS’s Shin
Central banks may face “race against time” to prevent wage-price spiral, says Hyun Song Shin
Pandemic-induced changes in labour markets are a key factor in determining whether inflation is short-lived or more persistent, said Hyun Song Shin on December 9.
The Bank for International Settlements’ head of research said this could present central banks with a “race against time” to prevent inflation expectations becoming unmoored.
Shin said similar trajectories in total hours worked masked important differences across countries. He highlighted a particular divide between the US, where
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