Bank of England

Founded in 1694, the Bank of England is the central bank of the United Kingdom. Sometimes known as the ‘Old Lady’ of Threadneedle Street, the Bank’s mission is to promote the good of the people of the United Kingdom by maintaining monetary and financial stability.

  • Maintaining public confidence in bank notes
  • Protecting the value of money over time through the monetary stability objective. That objective is to deliver low and stable prices, and is defined by the Government set inflation target of a 2 per cent year-over-year increase in the Consumer Prices Index. Decisions to achieve that objective are taken by the Bank’s Monetary Policy Committee (MPC).
  • To promote the safety and soundness of individual financial firms, the Prudential Regulation Authority (PRA) of the Bank regulates and supervises roughly 1,700 banks, building societies, credit unions, insurers and major investment firms.
  • To protect and enhance the resilience of the UK financial system as a whole, the Bank’s Financial Policy Committee (FPC) works to remove or reduce systemic risks. In short, this means working to prevent future financial crises, or reduce their frequency and severity.
  • Regulate and oversee key payment, clearing and settlement systems.
  • Act as lender and market maker of last resort at times of financial stress.
  • We work to safely resolve failing financial institutions
While the Bank’s responsibilities may be broad and wide-ranging, there are important benefits to having them housed within a single institution. Many of these responsibilities require common skills, information and analysis to fulfil. And there are often strong interactions among them, which require consistent, timely decision-making and effective management of any trade-offs.

The Bank’s job is to fulfil all of these responsibilities by working together in a coordinated way. By doing so, we can maximise the impact of each of our policies – always with a single, timeless mission in mind – to promote the good of the people of the United Kingdom.
Company Growth (employees)
Type
Private
HQ
London, GB
Founded
1694
Size (employees)
3,586 (est)
Bank of England was founded in 1694 and is headquartered in London, GB

Bank of England Office Locations

Bank of England has an office in London
London, GB (HQ)
Threadneedle St

Bank of England Data and Metrics

Summary Metrics

Founding Date

1694

Traffic Overview of Bank of England

Bank of England Online and Social Media Presence

Bank of England News and Updates

New rules will force UK banks to search accounts for illegal immigrants

Banks and building societies will be forced to carry out immigration checks on 70m current accounts from January, according to reports in the Guardian. The Home Office expects to identify 6,000 visa overstayers, failed asylum seekers and foreign national offenders facing deportation in the first …

City Moves for 22 September 2017 - who's switching jobs?

Today's City Moves cover macroeconomics, investment, resources and transport advisory. Take a look at these movers and shakers: Niesr The National Institute of Economic and Social Research (Niesr) announces the appointment of Dr Garry Young as its new director of macroeconomic modelling and fo…

The abnormally tough road to monetary policy normalisation

At the most recent meeting of the Institute of Economic Affairs’ shadow Monetary Policy Committee, I voted for a quarter point rate rise for the first time in a decade. But even as I was doing so, I had my doubts. You might wonder why, given that Mark Carney gave his biggest hint yet last week…

The 5,000-year history of interest rates shows just how historically low US rates still are right now

The Federal Reserve left its benchmark interest rate unchanged between 1.00% and 1.25% at the conclusion of its two-day meeting in September. It also confirmed, as expected, that it will begin shrinking its $4.5 trillion balance sheet in October. The central bank has raised …

Credit Suisse expects Bank of England to make "policy mistake" in November

Credit Suisse believes a UK interest rate rise later this year would be a “policy mistake” by the Bank of England. In a note today, analysts at the Swiss bank said they are expecting a hike in November, having previously predicted no change this year. “We think a rate hike in November in the b…

Hot UK cyber startup Digital Shadows has raised $26m

One of the UK's high-flying cyber security startups has attracted fresh funding from venture capital investors to fuel global expansion amid the growing threat to business of cyber crime. Digital Shadows, which emerged from fintech hub Level39 in Canary Wharf and boasts the Bank of England among …
Show more

Bank of England Company Life and Culture

You may also be interested in