Bank of England advisors are setting interest rates over Zoom calls

WFH Bank of England advisors are STILL setting the UK’s interest rates over Zoom calls as it’s revealed staff only have to go to office one day a week

  • Bank of England staff only have to come to the office for one day a week
  • Some of its monetary policy committee members attend meetings virtually
  • Former trade secretary Liam Fox said: ‘It seems strange that in an inflationary crisis, so few key personnel are attending their place of work’
  • Former trade secretary Liam Fox appeared to criticise the Bank of England's working-from-home policy where staff are only required to come into the office one day a week

    Former trade secretary Liam Fox appeared to criticise the Bank of England’s working-from-home policy where staff are only required to come into the office one day a week

    Bank of England advisers are still setting interest rates over video calls even though it scrapped working from home guidance months ago.

    Meetings of the Bank’s monetary policy committee, which sets interest rates, take place with some attending in person and others virtually.

    La Banca d'Inghilterra ne scopre la proprietà staff only have to come to the office for one day a week despite it pulling advice that they should work from home in January.

    From June 6, they will be expected to be back 40 per cent of the time – with a long-term aim to be back for 50 per cento.

    The Bank has faced criticism over its hybrid working policy amid anger over its failure to curb inflation, which this week hit 9 per cento.

    Former trade secretary Liam Fox said: ‘It seems strange that in an inflationary crisis, so few key personnel are attending their place of work.’

    Ministers launched an attack on the Bank of England at the weekend as pressure mounts on the Government over the cost of living crisis. One said the Bank had been failing to ‘get things right’ after wrongly judging that the current inflation surge would be ‘transitory’.

    A Bank of England spokesman said it wanted to ‘capitalise on the benefits of working in person, while maintaining the flexibility of WFH’.