Founded in 1694, the Bank of England is the central bank of the United Kingdom. Sometimes 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 a diverse organisation, made up of approximately 3600 people – each committed to public service and dedicated to promoting the good of the people of the United Kingdom by maintaining monetary and financial stability.
The Bank of England is owned by the UK government. Parliament has given us powers through legislation, which means that we are accountable to both Parliament and the public.
The Bank is overseen by a board of directors, known as the Court of Directors
, who are appointed by the Queen on the recommendation of the Prime Minister and the Chancellor. Court is responsible for setting and monitoring the Bank's strategy and taking key decisions on spending and appointments. The government chooses one of the non-executive, or external, members to chair Court.