Bank of England Staff Spent Nearly 13,000 Days Working Abroad
The Bank of England has revealed that over 1,000 employees spent nearly 13,000 days working abroad under its flexible work policy. According to Freedom of Information data, staff are eligible to work overseas for up to 40 days a year in addition to their existing entitlement to work from home three days a week.
The Bank's guidance states that the working-from-abroad policy is in place for staff who temporarily work outside the UK and allows colleagues to carry out their roles effectively while remotely. However, the policy is subject to time limits and security-related restrictions.
Notably, this disclosure comes a week after the Bank's monetary policy committee maintained the cost of borrowing at 3.75% for a fifth time this year. The committee voted six to three against a rate hike, with some members citing concerns about inflation and economic uncertainty.