The union Unite is staging a protest at the Bank of England today in an ongoing dispute about pay.
Bank staff are angry it has imposed a below-inflation pay offer of 1 per cent for the second year running.
The pay deal came into effect in March.
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 says the ballot is the first stage of industrial action where staff from the maintenance, parlours and security departments have been chosen for “strategic reasons”.
Other departments will be balloted as the dispute progresses. The union represents staff from departments including HR, legal, administration, analysts, IT and management.
Unite regional officer Mercedes Sanchez says: “The message coming from staff at the bank is that an imposed pay offer of 1 per cent simply fails to realise the reality of the pressure staff face meeting their costs of living.
“The refusal of the Bank of England to award its staff a pay deal in line with inflation is a shame on the reputation of the organisation and strike action will do nothing for the reputation of the prestigious bank.”
In a consultative ballot in February, Unite members voted by more than 70 per cent to move to a formal industrial action ballot.
The ballot papers to members were issued on the 1 June and the ballot will close on 21 June.
The Bank of England declined to comment.