The Bank of England

The Bank of England is the central bank of the United Kingdom, established in 1694. Its primary role is to manage the nation's currency, maintain monetary stability, and oversee the financial system. It sets interest rates to control inflation and supports the government in managing public funds. The Bank also issues banknotes in England and Wales and acts as a lender to commercial banks, ensuring they have sufficient liquidity. Overall, it plays a crucial role in safeguarding the economy and financial stability of the UK.