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. Monetary Policy

    The actions of a central bank, currency board or other regulatory ...
  5. Sterling Overnight Interbank Average ...

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

    Slang used among forex traders referring to the exchange rate ...
Related Articles
  1. Investing

    Who determines interest rates?

  2. Economics

    The Federal Reserve

  3. Personal Finance

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

  4. Personal Finance

    What Are Central Banks?

Hot Definitions
  1. Turkey

    Slang for an investment that yields disappointing results or turns out worse than expected. Failed business deals, securities ...
  2. Conduit Issuer

    An organization, usually a government agency, that issues municipal securities to raise capital for revenue-generating projects ...
  3. Financing Entity

    The party in a financing arrangement that provides money, property, or another asset to an intermediate entity or financed ...
  4. Hyperinflation

    Extremely rapid or out of control inflation. There is no precise numerical definition to hyperinflation. Hyperinflation is ...
  5. Gross Rate Of Return

    The total rate of return on an investment before the deduction of any fees or expenses. The gross rate of return is quoted ...
  6. Debit Spread

    Two options with different market prices that an investor trades on the same underlying security. The higher priced option ...
Trading Center