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. Cable

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

    The entity responsible for overseeing the monetary system for ...
  6. Currency

    A generally accepted form of money, including coins and paper ...
Related Articles
  1. Investing

    Who determines interest rates?

    In countries using a centralized banking model, interest rates are determined by the central bank. In the first step of interest rate determination, the government's economic observers create ...
  2. Economics

    The Federal Reserve

    Few organizations can move the market like the Federal Reserve. As an investor, it's important to understand exactly what the Fed does and how it influences the economy.
  3. Personal Finance

    How The U.S. Government Formulates Monetary Policy

    Learn about the tools the Fed uses to influence interest rates and general economic conditions.
  4. Personal Finance

    What Are Central Banks?

    They print money, they control inflation, and much, much more. All you need to know about central banks is here.
  5. Investing

    What is the difference between a gilt edged bond and a regular bond?

    A gilt edged bond is a high-grade bond issue. The term "gilt" is of British origin and originally referred to debt securities issued by the Bank of England. Gilt edged bonds traditionally applied ...
  6. There are many ways to rank the word's most powerful companies. Looking at market value, brand value or sales revenue are all methods used to rank the biggest companies in the world.
    Economics

    Most Powerful And Influential Public Companies In 3 Metrics

    There are many ways to rank the word's most powerful companies. Looking at market value, brand value or sales revenue are all methods used to rank the biggest companies in the world.
  7. A look at China's plan to control population growth and how it could change going forward.
    Economics

    China's One-Child Policy Explained

    A look at China's plan to control population growth and how it could change going forward.
  8. Economics

    What's the highest year-over-year inflation rate in the history of the U.S.?

    Learn about periods with the highest inflation in U.S. history and the mandated role of the U.S. Federal Reserve in controlling inflation.
  9. With the second-largest economy in the world, China has significant (and growing) influence on the global economy. But how is that impact figured?
    Economics

    A Look At China's Growing Influence On The World

    With the second-largest economy in the world, China has significant (and growing) influence on the global economy. But how is that impact figured?
  10. Investing

    The Increasing Importance Of The Reserve Bank of India

    With the Indian economy accounting for a great share of the global economy, the RBI is poised to become one of the world’s leading central banks.

You May Also Like

Hot Definitions
  1. Santa Claus Rally

    A surge in the price of stocks that often occurs in the week between Christmas and New Year's Day. There are numerous explanations ...
  2. Commodity

    1. A basic good used in commerce that is interchangeable with other commodities of the same type. Commodities are most often ...
  3. Deferred Revenue

    Advance payments or unearned revenue, recorded on the recipient's balance sheet as a liability, until the services have been ...
  4. Multinational Corporation - MNC

    A corporation that has its facilities and other assets in at least one country other than its home country. Such companies ...
  5. SWOT Analysis

    A tool that identifies the strengths, weaknesses, opportunities and threats of an organization. Specifically, SWOT is a basic, ...
  6. Simple Interest

    A quick method of calculating the interest charge on a loan. Simple interest is determined by multiplying the interest rate ...
Trading Center