Bank's King declines pay hike for two years
Mervyn King, the governor of the Bank of England, has volunteered to take a two-year salary freeze, the central bank's annual report, released on Wednesday, revealed.
Threadneedle Street said King received a 2.5% pay rise on 1 July last year, taking his pay from £297,920 ($436,997) in 2008, to £305,368. The increase was higher than the annual rate of inflation for 2009, which registered at 2.2%. The Bank targets inflation at 2%.
King also received benefits totalling £2,878, taking his total
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