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Central Bank Governor warns against salary increases to fight inflation

May 7th, 2022

Barbadians are being told salary increases should not be the first option to address rising costs.

The advice comes from Governor of the Central Bank Cleviston Haynes.

Mr. Haynes acknowledges supply chain issues made worse by the Russia/Ukraine situation are contributing to increased prices.

However, the Governor does not agree with wage increases to match inflation.

He was part of the panel for the May edition of the Central Bank of Barbados’ Caribbean Economic Forum.

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