Bank of England strike
Protesters hold up Bank of England Governor Mark Carney masks outside the bank during a three-day strike over pay in August. Reuters

A pay dispute that saw Bank of England staff go out on strike for the first time in 50 years has been settled.

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In a statement on Tuesday (5 September), the union Unite said its members had accepted the revised offer from the bank to end the dispute that led to a three-day strike in August.

In a ballot, 60% of Unite members backed the new offer from the UK central bank that includes more annual leave for staff and a payment to lower-paid employees.

In a statement, the bank welcomed its settlement with Unite workers.

"The proposal that has been agreed includes a range of measures focused on improving our relationship with Unite and involving them more in pay discussions.

"We hope this leads to a more productive relationship with the Union going forward."

Mercedes Sanchez, regional officer for the union, said: "Unite is pleased to bring the Bank of England dispute to an end having secured significant improvements for staff across the organisation.

"Members have shown that by standing firm against an employer attempting to ignore their rights they can succeed."