The Bank of England (BoE) is the central bank of the United Kingdom, founded in 1694 in London. Find out what role it plays in today's economy, and why it matters it your trading.
- The Bank of England (BoE) is the central bank of the United Kingdom, founded in 1694 in London.
- The current Governor of the BoE is Andrew Bailey, who assumed office on March 16, 2020.
It is the world’s eighth-oldest bank, and was privately owned by stockholders from its foundation in 1694 until it was nationalised in 1946. The Bank became an independent public organisation in 1998, when it became fully owned by the Treasury Solicitor on behalf of the government, but with independence in setting monetary policy.
What responsibilities does the Bank of England have?
- British Pound Stability Management (GBP)
- Maintaining monetary stability
- Maintaining financial stability
Which markets does the Bank of England have the most influence on?
The decisions taken by BoE have the greatest impact on the currencies associated with GBP and UK100. That is why it is so important to observe the bank's decisions regarding interest rates.
You can find more information on interest rates in this article.
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