Wanting it both ways on pay and mortgages
Published 07/04/2016 | 02:30
Higher wages will undermine gains in the country's competitiveness made since the crash, the Central Bank warns. At the launch of the bank's overview of the economy, its chief economist, Gabriel Fagan, said pressure for higher pay was only natural. However, there was a need to avoid "overshooting" when it comes to pay demands, he said.
In the next breath, Mr Fagan claimed the Central Bank's mortgage lending rules could be tightened even further.
A review to see how well those rules are meeting their original purpose is due later this year.