With all these moving parts, and the uncertainty about the future strength of labour demand, it is challenging to determine exactly when the spare capacity in the labour market will be absorbed and, hence, when we can expect a sustained lift in wages growth.
the need to pay attention to the feedback loops, particularly the negative feedback loops and to take mid-course corrective actions. Those who fail to do so, end up paying a heavy price. 4  BIS central bankers’ speeches  Inclusive finance vs. regulations2 History is replete with examples that good intentions may not always lead to good outcomes.