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Podcast: Beyond Currency
Episode: 25 July 2023 - Did you hear the one about the Bank of England...?
Description: There has been outrage over the Bank of England’s decisions to award its staff bonuses totalling twenty-five million pounds despite its demand that the rest of the country exercise restraint in pay awards and bonuses.
Andrew Bailey’s assertion that unsustainable wage rises are in part responsible for stoking inflation appears not to apply “close to home.”
While the awards are not necessarily excessive in themselves and are in line with what has been paid in previous years, the revelation will embarrass the Bank’s Governor at a time when his and his teams’ credibility is low after a series of il...