LONDON - THE Bank of England raised staffing levels this year by its biggest amount in 22 years after the central bank took on new responsibilities to tackle the credit crisis.

In its annual report, published on Monday, the BoE said it had 1,666 people employed on permanent contracts at the end of February 2009, up from 1,579 a year earlier.

That is a rise of 6 per cent on the year, the biggest increase since 1987 when stock markets crashed.

In recognition of the 'exceptional workload' over the last year, the BoE said it had increased its bonus and special payments budget from the usual 7 per cent of salaries to 8.1 percent.

Overall staff costs rose to 144 million pounds (S$323 million) in 2009, up from 124 million pounds in 2008, with Governor Mervyn King taking home a salary of 297,920 pounds. -- REUTERS