The world’s largest economies will lack the workers they need to power growth and keep prices stable in the coming decades unless they attract more foreigners, top central bankers warned.
Speaking at an annual gathering of leading policymakers in Jackson Hole, Wyoming, the heads of the Bank of Japan, European Central Bank and Bank of England all sought to highlight the challenge to economic growth posed by ageing populations.
Kazuo Ueda, BoJ governor, told the Kansas City Federal Reserve’s annual symposium that his country’s rapidly ageing society had made labour shortages one of the country’s “most pressing” economic issues.
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