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What Is Written Here Is Not Investment Advice. It has been published on this page to explain the terminology used with explanations about the stock market, digital currencies, economy, finance and investment instruments.

🔍Bank of England

  The Bank of England is the central bank of the United Kingdom. It was established in 1694 to act as the government's banker and debt-manager. Since then, it has evolved to become the UK's monetary authority, responsible for maintaining price stability and supporting economic growth.

The Bank of England has four main functions:

- Monetary policy: The Bank sets the interest rate that influences how much it costs to borrow money in the UK. This affects spending, saving, investment and inflation. The Bank also creates money electronically to support the economy through a process called quantitative easing.

- Financial stability: The Bank monitors and regulates the UK's financial system to ensure it is safe and resilient. It works with other authorities to prevent and manage financial crises. It also provides emergency liquidity to banks and other institutions in times of stress.

- Prudential regulation: The Bank supervises and sets rules for banks, building societies, credit unions, insurers and major investment firms. It aims to ensure they are well-managed and have enough capital and liquidity to withstand shocks.

- Banking services: The Bank provides banking services to the UK government and other public sector organisations. It also operates the UK's payment systems and issues banknotes.

The Bank of England is independent from the government, but accountable to Parliament. It is governed by a Court of Directors and led by a Governor, who is appointed by the Queen on the advice of the Prime Minister. The current Governor is Andrew Bailey, who took office in March 2020.


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