Bank of England - BoE

AAA

DEFINITION of 'Bank of England - BoE'

The Bank of England is the central bank for the United Kingdom. It has a wide range of responsibilities, similar to those of most central banks around the world. For example, it acts as the government's bank and the lender of last resort, it issues currency and, most importantly, it oversees monetary policy.

INVESTOPEDIA EXPLAINS 'Bank of England - BoE'

Sometimes known as "the Old Lady of Threadneedle Street", the BoE is the UK's equivalent of the Federal Reserve in the United States.

One interesting fact about the BoE is that it has been responsible for setting the UK's official interest rate only since 1997.

RELATED TERMS
  1. Advance Corporation Tax - ACT

    The prepayment of corporate taxes by companies in the United ...
  2. National Australia Bank - NAB

    One of the major banking entities in Australia. The National ...
  3. Black Wednesday

    The day when the British government was forced to withdraw the ...
  4. Sterling Overnight Interbank Average ...

    An index that the tracks Sterling overnight funding rates for ...
  5. Cable

    Slang used among forex traders referring to the exchange rate ...
  6. Central Bank

    The entity responsible for overseeing the monetary system for ...
Related Articles
  1. Who determines interest rates?
    Investing

    Who determines interest rates?

  2. The Federal Reserve
    Economics

    The Federal Reserve

  3. How The U.S. Government Formulates Monetary ...
    Personal Finance

    How The U.S. Government Formulates Monetary ...

  4. What Are Central Banks?
    Personal Finance

    What Are Central Banks?

comments powered by Disqus
Hot Definitions
  1. Ghosting

    An illegal practice whereby two or more market makers collectively attempt to influence and change the price of a stock. ...
  2. Elasticity

    A measure of a variable's sensitivity to a change in another variable. In economics, elasticity refers the degree to which ...
  3. Tangible Common Equity - TCE

    A measure of a company's capital, which is used to evaluate a financial institution's ability to deal with potential losses. ...
  4. Yield To Maturity (YTM)

    The rate of return anticipated on a bond if held until the maturity date. YTM is considered a long-term bond yield expressed ...
  5. Net Present Value Of Growth Opportunities - NPVGO

    A calculation of the net present value of all future cash flows involved with an additional acquisition, or potential acquisition. ...
  6. Gresham's Law

    A monetary principle stating that "bad money drives out good." In currency valuation, Gresham's Law states that if a new ...
Trading Center