The union Unite is protesting outside the Bank of England today in an ongoing dispute about “derisory” pay.
Bank staff are angry it has imposed a below-inflation pay offer for the second year running.
A 1 per cent increase in the pay pot for the pay year, starting in March 2017, was imposed.
A Unite statement says the rise is “derisory”.
According to Unite, some staff will get no pay rise at all this year because the amount an individual will receive is at the discretion of managers.
It says the pay arrangement was imposed on staff without union negotiation and is calling on the bank to give staff fair pay.
Bank staff are being balloted for industrial action. Unite is calling on the bank to reconsider its refusal to fairly negotiate pay to prevent industrial action.
Unite regional officer Mercedes Sanchez says: “The message coming from staff at the bank is that an imposed pay offer of one per cent simply fails to realise the reality of the pressure staff face meeting their costs of living.”
The Bank of England has been contacted for comment.