Bank of England
Sign in to savecentral bank of the United Kingdom
AI overview
The Bank of England is the central bank of the United Kingdom, meaning it manages the country's money supply and financial system. It matters because it makes decisions about interest rates and banking regulations that affect inflation, employment, and the overall health of the British economy.
AI-generated from the Wikipedia summary — may contain errors.
Article
The Bank of England is the central bank of the United Kingdom and the model on which most modern central banks have been based. Established in 1694 to act as the English Government's banker and debt manager, and still one of the bankers for the government of the United Kingdom, it is the world's second oldest central bank, after Sweden's (1668). It is considered to be one of the world's most important central banks.
The bank was privately owned by stockholders from its foundation in 1694 until it was nationalised in 1946 by the Attlee ministry. In 1998 it became an independent public organisation, wholly owned by the Treasury Solicitor on behalf of the government, with a mandate to support the economic policies of the government of the day, but independence in maintaining price stability. In the 21st century the bank took on increased responsibility for maintaining and monitoring financial stability in the UK, and it increasingly functions as a statutory regulator.
Gallery (12)
Connections
Categories
1694 establishments in EnglandBanknote issuers of the United KingdomBank of EnglandBanks established in 1694Banks of the United KingdomCentral banksCoordinates not on WikidataEconomy of the United KingdomGeorgian architecture in LondonGrade I listed banksGrade I listed buildings in the City of LondonHerbert Baker buildings and structures