Bank of England

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Bank of England

established in 1694, the Bank of England is the central bank of the UK. It was nationalized by the Bank of England Act 1946 and acts as the 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.
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In July, as the Bank of England takes on new regulatory powers, the Old Lady of Threadneedle Street will have its first foreign governor in Mark Carney.
at the Old Lady of Threadneedle Street have clearly underestimated both economic growth and inflation in the sceptred isle in 2010.
Bank of Scotland, before this ridiculous merger with a building society, was the UK's oldest clearing bank, only a few years younger than the Old Lady of Threadneedle Street.