Bank of England

From Traderpedia

The Bank of England (BOE) is the central bank of the U.K. It can sometimes be referred to as "The Old Lady of Threadneedle Street" or just "The Old Lady".

[edit] Purpose of the BOE

The Bank of England peforms the following functions:

  • Maintains price stability
  • Supports the government in the promotion of economic growth
  • Issues banknotes
  • Acts as lender of last resort
  • Manages the currency
  • Controls the country's gold reserves
  • Sets interest rates