Bank of England

Founded on 27 July 1694 as the Government's banker and a source of wartime finance, the Bank of England is now the United Kingdom's central bank. It is a public body owned by the British government and operates from London.

Its core responsibilities are maintaining monetary and financial stability. The Bank's Monetary Policy Committee sets Bank Rate to meet the Government's 2% inflation target, while its Financial Policy Committee monitors risks across the financial system. Through the Prudential Regulation Authority, it supervises banks, insurers, building societies, credit unions and major investment firms.

The Bank is especially strong in macroeconomic analysis, financial regulation and crisis management. It also issues banknotes for England and Wales, runs or supervises critical payment infrastructure, provides wholesale banking services to the UK Government and other central banks, and can provide liquidity support to financial institutions during periods of stress.