Bank of England under fire over £23m bonus payouts

Anger as thousands of Bank staff enjoy performance awards' after governor urged other British workers not to demand big rises

The Bank of England, which has been criticised for underestimating the threat of rising inflation, last year paid out bonuses to its staff amounting to more than 23m, the Observer can reveal.

This bonus pot was at its highest level for at least two years, with more than 4,260 employees receiving performance awards. Andrew Bailey, the bank's governor, was widely criticised earlier this year after telling Britain's workers that they should not be asking for big pay rises because inflation had to be kept under control.