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Home | Bank of England The Bank of England (BoE) is the UK's central bank Our mission is to deliver monetary and financial stability for the people of the United Kingdom
What does the Bank of England do? 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
Interest rates and Bank Rate | Bank of England Bank Rate is the single most important interest rate in the UK In the news, it's sometimes called the ‘Bank of England base rate’ or even just ‘the interest rate’ Our Monetary Policy Committee (MPC) sets Bank Rate
History | Bank of England The Bank of England was founded as a private bank in 1694 to act as banker to the Government Today we are the UK’s central bank Our timeline looks at some of the highlights from our long history
What does the Bank of England do? The Bank of England has served the public for over 300 years by looking after the UK economy and financial system Find out more about what we do We are not a high street bank – we are the central bank of the United Kingdom
Bank Rate reduced to 4. 5% - February 2025 | Bank of England At its meeting ending on 5 February 2025, the MPC voted by a majority of 7–2 to reduce Bank Rate by 0 25 percentage points, to 4 5% Two members preferred to reduce Bank Rate by 0 5 percentage points, to 4 25%
Why are interest rates high and how quickly might they fall? | Bank of . . . The Bank of England sets Bank Rate It is also sometimes known simply as ‘the interest rate’ Bank Rate influences the level of all other interest rates in the UK Bank Rate was almost zero (0 1%) at the beginning of December 2021 It is 4 5% now In the years between 1975 and 2007, Bank Rate was 3 5% at its lowest point and 17% at its highest
Bank Rate history and data | Bank of England Database See how the Bank of England's Bank Rate changed over time Related links Learn about interest rates and Bank Rate; Information about wholesale baserate data; Current official Bank Rate 4 5% Official Bank Rate Export the data Date Changed Rate; 06 Feb 25: 4 50: 07 Nov 24: 4 75: 01 Aug 24: 5 00: 03 Aug 23: 5 25: 22 Jun 23: 5 00: 11 May 23:
Stress testing the UK banking system: Guidance on the . . . - Bank of England A bank’s recovery plan details the range of actions it could take in a stress The Bank will ordinarily only accept actions that meet its expectations set out in the Supervisory Statement on recovery planning, to reflect the strong link between banks’ strategic management actions and their recovery plans
Monetary policy - Bank of England Monetary policy is action that a country's central bank or government can take to influence how much money is in the economy and how much it costs to borrow As the UK’s central bank, we use two main monetary policy tools