Bank of England
The Bank of England is the UK's central bank. It started life in 1694 as a private bank set up by London merchants as a vehicle to lend money to the government and to deal with the national debt.
The Bank of England is the UK's central bank. It began life in 1694 as a private bank set up by London merchants as a vehicle to lend money to the government and to deal with the national debt. That makes it the second-oldest central bank still in operation (the oldest is the Swedish central bank, which was set up in 1668). In 1946, it was nationalised.
It has a number of roles including overseeing the operation of the Royal Mint, which issues sterling notes and coins but its most important and high profile is to oversee monetary policy with the goal of maintaining financial stability in the UK.
Try 6 free issues of MoneyWeek today
Get unparalleled financial insight, analysis and expert opinion you can profit from.
Sign up for MoneyWeek’s free twice-daily newsletter.
Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.
Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.
