Central Banks
BOE Heads Off Strike Risk With 3.5% Pay Deal for 5,000 Staff
- BOE offers extra one-off salary and benefit sweeteners
- Unite union accepts package, avoiding risk of strike
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The Bank of England has agreed a 3.5% pay rise for its 5,000 staff and a one-off 1% salary top-up this year under a sub-inflation deal that has been accepted by the union.
The increase in the overall pay pot will be targeted at lower paid staff to protect them against the worst of the living standards squeeze, with the better-off receiving smaller rises of as little as 1%.