Bank of England
a.k.a. BoE, The Old Lady of Threadneedle Street
The UK's central bank, whose Monetary Policy Committee sets Bank Rate and steers the British pound's…
In plain English
The UK's central bank, whose Monetary Policy Committee sets Bank Rate and steers the British pound's monetary backdrop.
The Bank of England (BoE) was founded in 1694, making it one of the oldest central banks. Its Monetary Policy Committee votes on Bank Rate, the UK's main interest rate, with a 2% inflation target.
Each member's vote is published, so a surprise split can jolt the pound as much as the decision itself. Its nickname is 'the Old Lady of Threadneedle Street', after the London street where it lives.
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