Bank of England: History and Role

Central Bank of the United Kingdom

The Bank of England (BoE) holds the distinction of being the United Kingdom's central bank. Established in 1694, it serves as the model upon which modern central banks across the globe have been constructed.

Note Issuer and Monetary Policy

The BoE possesses a long-standing tradition as the sole issuer of banknotes in England, with over 46 billion notes currently in circulation. Additionally, it holds the responsibility for managing the country's monetary policy. By setting interest rates, the Bank aims to maintain price stability and foster economic growth.