Bank of England (BoE)
BoE's Bailey: Geopolitical risks may be underestimated by markets
BoE Governor Andrew Bailey stated that geopolitical uncertainty is a significant consideration in the central bank’s assessment of financial stability, warning that markets may be underestimating the risks associated with global political tensions and institutional challenges, acco
BoE’s Ramsden: Labour market is continuing to weaken
BoE Deputy Governor David Ramsden said that wages will remain a key focus this year and that his view is that policy remains restrictive, in a speech at King's College in London on Wednesday.
BoE's Taylor: Expects monetary policy to normalize soon
BoE policymaker Alan Taylor said in a summit at National University of Singapore that he expects interest rates to fall to their neutral levels soon.
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What is the BOE?
Founded in 1694, the Bank of England (BoE) is the central bank of the United Kingdom (UK). Known as ‘The old lady of Threadneedle Street’, the bank’s mission is "to promote the good of the people of the United Kingdom by maintaining monetary and financial stability".
The Bank of England is responsible for maintaining the UK’s economic stability. It operates monetary policy by adjusting the Bank Rate and, in certain circumstances, supplements this with measures such as quantitative easing.
The Bank of England decides monetary policy for the United Kingdom. Its primary goal is to achieve a steady inflation rate of 2%. Its tool for achieving this is via the adjustment of base lending rates. The BoE sets the rate at which it lends to commercial banks and banks lend to each other, determining the level of interest rates in the economy overall. This also impacts the value of the Pound Sterling (GBP).
The official website, on X and YouTubeWho is BOE's Governor?
Andrew Bailey has been the Governor of the BoE since March 2020 and his appointment ends on March 2028. Previously, he served in the BoE as its Chief Cashier, Deputy Governor for Prudential Regulation and Chief Executive of the Financial Conduct Authority.
Interest rates latest news
The World Interest Rates Table
The World Interest Rates Table reflects the current interest rates of the main countries around the world, set by their respective Central Banks. Rates typically reflect the health of individual economies, as in a perfect scenario, Central Banks tend to rise rates when the economy is growing and therefore instigate inflation.