Governor rejects pay rise

Tue 15 Jul 2008

The governor of the Bank of England, Mervyn King, rejected a 30 per cent pay rise despite recommendations his salary should jump to more than £375,000.

The Bank's annual report revealed his salary will remain at £290,000 despite rising inflation.

Writing the report's introduction, Mr King predicted "the path of the economy would soon become much bumpier than during the first ten years of the Bank of England's independence".

He warned inflation was likely to remain above three per cent into 2009 but said the Bank's monetary policy committee was determined to keep it down.

"However, after two recent periods in which inflation has risen significantly, we cannot take for granted that inflation expectations for the medium term will remain firmly anchored on the target," he acknowledged.

Recruitment agencies do not decide on pay rises. However, they do provide workers looking for commercial jobs and employment in call centres excellent work opportunities.

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