Bank of England boss asks firms to show restraint when raising prices

Andrew Bailey made the request after his call for employees to not demand big pay rises came under criticism

The governor of the Bank of England has called on businesses to show restraint when raising their prices, after he came under heavy criticism for saying workers should not demand big pay rises to help manage inflation.

Andrew Bailey said that he recognised his call for workers to show restraint in the annual wage-bargaining process was unpopular, but warned that there were risks of an upward spiral for inflation taking hold.

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