Bank of England
established in 1694, the Bank of England is the central bank of the UK. It was nationalised by the Bank of England Act 1946 and acts as competent authority for the banking sector under regulatory powers conferred by the Banking Act 1987. It now sets interest rates independent of government and in this respect resembles a central bank.

Collins dictionary of law. . 2001.


Bank of England
The UK's central bank. The Bank manages the UK's foreign exchange and gold reserves and the government's stock register. It collects monetary and banking statistics, prints the country's bank notes and has close links with the financial markets. Since 1997, it has had statutory responsibility for setting the UK's official interest rate. The Bank of England is regulated by the Financial Services Authority.
For further information, see the Bank of England website^ .
Related links

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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