Institutions
Bank of England
Also Known As The Old Lady of Threadneedle Street
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The Bank of England is the central bank of the United Kingdom, founded in 1694 under a royal charter and headquartered on Threadneedle Street in the City of London since 1734. It is the world's second oldest central bank still in operation, after Sweden's Riksbank, and its long history running the machinery of a national currency and government debt made it, in its own historians' words, the model on which most modern central banks have been based. Its Monetary Policy Committee has targeted two percent inflation, as measured by the Consumer Prices Index, under a mandate set by the UK Treasury.
Facts
Founding Year Founding Date Headquarters Cross-Tradition Connections
Associated With
The Bank of England is among the member central banks that own and participate in the Bank for International Settlements, founded in 1930 to support cooperation among the world's central banks.
Inflation, Concepts The Bank of England's Monetary Policy Committee targets two percent inflation as measured by the Consumer Prices Index, a mandate set for it by the UK Treasury.
South Sea Bubble, Events The Bank of England was the South Sea Company''s direct rival for management of the national debt through the whole episode; the crash confirmed the Bank''s position as banker to the British government.
Sources
1. Wikipedia
Wikimedia FoundationBank of EnglandQuote, Bank of England
The royal charter of the Bank of England was granted on 27 July 1694
1. Wikipedia
1. Wikipedia
Wikimedia FoundationAssociated With: South Sea Bubble, South Sea Bubble (South Sea Company), Recriminations sectionQuote, Associated With: South Sea Bubble, South Sea Bubble (South Sea Company), Recriminations section
At the time of these events, the Bank of England was also a private company dealing in national debt, and the crash of its rival confirmed its position as banker to the British government.
Bank for International Settlements (Official Website)
Bank for International SettlementsAssociated With: Bank for International SettlementsView the Source Reader Challenges (0 open reader challenges)
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