Bank's King declines pay hike for two years

mervyn-king

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

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.