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Workers at the Reserve Bank of Australia (RBA) say they are furious after their bosses failed to improve a pay offer they had already rejected. 

RBA staff voted 'no' in July to the bank's proposed 9.5% pay rise over three years (3.5% in the first year, 3% in the second, 3% in the third). 

The Finance Sector Union (FSU) has lodged a dispute on behalf of members with the Fair Work Commission (FWC) to seek assistance.    

Enterprise Agreement negotiations have dragged on since late last year and the RBA has refused to move on its original pay offer.  

Workers have most recently asked for an 11% increase over three years and an inflation-protection mechanism that triggers additional pay rises if inflation outpaces wages.  

Hundreds of RBA union members expressed their anger with management at a recent union meeting and have vowed to vote 'no' again if the bank follows through on its plan to push through the 9.5% pay offer for the second time.  

Quotes attributable to FSU National Secretary Julia Angrisano:  

"The RBA are not respecting the collective voice of their workers by putting forward the same pay offer that was rejected in a ballot just over two months ago," Ms Angrisano said.    

"The RBA should be a model employer, but instead they are treating their staff like mugs. 

"Workers made it clear in July that the 9.5% offer wasn't good enough and the bank should have acknowledged that by putting forward something more substantial. Instead, what they got was a copy and paste of the offer they already rejected. 

"RBA workers are performing a very important service to the Australian public, and they don't need this arrogant dismissal from management regarding their very real cost-of-living concerns. 

"Only RBA management can end this war of attrition by listening to their workers."  

Media contact: Julian Maleevsky 0430 781 993 or [email protected]