BANK of England Governor Mark Carney has turned down a 1.5 per cent pay rise to his £480,000 basic salary.

That was noted in the BoE's annual report for the 12 months to February 28 this year which confirmed the Canadian born Governor received a total package close to £880,000.

On top of his basic salary he got taxable benefits of £251,633 - mainly made up of a £250,000 living allowance he received for moving to London - along with pension benefits of around £148,000.

Mr Carney had turned down a two per cent pay increase in the prior year.