What Is The Bank Of England?

Q: What is the Bank of England?

Bank of England Definition - The Bank of England, formally the Governor and Company of the Bank of England, is the central bank of the whole of the United Kingdom. It was established in 1694 to act as the English Government‘s banker, and its structure and operation have become the model on which most modern, large central banks have been based. The Bank‘s Monetary Policy Committee has the sole responsibility for managing monetary policy of the country and for setting the official interest rate. The Bank‘s headquarters are located in London‘s main financial district, the City of London, on Threadneedle Street. It is sometimes referred to as "The Old Lady of Threadneedle Street" or simply "The Old Lady". The most important functions of the bank are maintaining price stability and supporting the economic policies of the British Government, thus promoting economic growth. Stable prices and confidence in the currency constitute monetary stability. The Bank of England also has a monopoly on the issue of banknotes in England and Wales.

Bank of England Definition – The Bank of England, formally the Governor and Company of the Bank of England, is the central bank of the whole of the United Kingdom. It was established in 1694 to act as the English Government’s banker, and its structure and operation have become the model on which most modern, large central banks have been based. The Bank’s Monetary Policy Committee has the sole responsibility for managing monetary policy of the country and for setting the official interest rate. The Bank’s headquarters are located in London’s main financial district, the City of London, on Threadneedle Street. It is sometimes referred to as “The Old Lady of Threadneedle Street” or simply “The Old Lady”. The most important functions of the bank are maintaining price stability and supporting the economic policies of the British Government, thus promoting economic growth. Stable prices and confidence in the currency constitute monetary stability. The Bank of England also has a monopoly on the issue of banknotes in England and Wales.

Forextraders' Broker of the Month

ForexTime (FXTM) is an award-winning platform that certainly has the feeling of being set up by people who know what they are doing. The firm demonstrates an understanding of what helps traders make better returns, and its success can be measured by the fact that it's doubled the number of clients it supports in recent years. The fact that the broker has grown to have more than two million accounts suggests it is getting things right for clients.