The Bank of England is the central bank of the United Kingdom. Sometimes known as the 'Old Lady' of Threadneedle Street, the Bank was founded in 1694, nationalised in 1946, and gained operational independence to set monetary policy in 1997. Its mission is to promote the good of the people of the United Kingdom by maintaining monetary and financial stability. Key responsibilities include setting the UK's main interest rate (Bank Rate), issuing banknotes, supervising financial institutions, and working to maintain a stable financial system. It plays a crucial role in the UK economy through its Monetary Policy Committee (MPC), Financial Policy Committee (FPC), and Prudential Regulation Authority (PRA).
The headquarters serves as the central hub for all the Bank's operations, including monetary policy formulation, financial stability oversight, banking services, banknote issuance, and prudential regulation.
The current building, designed by Sir Herbert Baker, was completed in 1939. It features a distinctive windowless exterior wall for security, a hidden courtyard garden, and extensive gold vaults beneath the building. The architecture combines classical elements with modern (for its time) functionality.
The work culture at the Bank of England is generally described as professional, analytical, and mission-driven, with a strong emphasis on public service, integrity, and intellectual rigor. Employees often have backgrounds in economics, finance, and policy.
The headquarters is historically and economically significant, being the physical centre of UK monetary policy and financial regulation for centuries. Its location on Threadneedle Street has made the street's name synonymous with the Bank itself.
While its primary focus is the UK, the Bank of England has a significant global presence through its active participation in international financial institutions and forums. This includes the Bank for International Settlements (BIS), the Financial Stability Board (FSB), the G7, G20, and the International Monetary Fund (IMF). It collaborates with other central banks worldwide on issues of monetary policy, financial stability, regulation, and economic research. Its work influences and is influenced by global economic trends and regulatory developments.
Threadneedle Street
London
England
United Kingdom
Address: King Street, Leeds, LS1 2HQ
To improve understanding of regional economic conditions, enhance engagement with businesses and communities in the North of England, and attract diverse talent.
Address: Langston Road, Loughton, Essex, IG10 3TN
Primary location for the printing of all Bank of England banknotes, ensuring the supply and integrity of physical currency in the UK.
Address: Locations not publicly detailed for security reasons.
To ensure the efficient and secure distribution of cash throughout the United Kingdom, maintaining the integrity of the currency supply chain.
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As of April 2025, Bank of England' leadership includes:
Bank of England has been backed by several prominent investors over the years, including:
The Bank of England has seen key transitions in its executive team over the past year, including a new Deputy Governor for Financial Stability and an upcoming change for the Deputy Governor for Monetary Policy.
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The Bank of England typically uses a standard email format for its employees. While not officially published, the most common pattern observed is [firstname].[lastname]@bankofengland.co.uk. Variations might exist for specific departments or roles.
[firstname].[lastname]@bankofengland.co.uk
Format
andrew.bailey@bankofengland.co.uk
Example
75%
Success rate
Bank of England • 2024-05-09
The Monetary Policy Committee (MPC) voted by a majority of 7-2 to maintain Bank Rate at 5.25%. Two members preferred to reduce Bank Rate by 0.25 percentage points, to 5%. The Committee noted that CPI inflation is expected to return to close to the 2% target in the near term but will increase slightly in the second half of this year....more
Reuters • 2024-03-21
The Bank of England kept interest rates at a nearly 16-year high of 5.25% as most of its policymakers said they still needed more evidence that inflation pressures were abating before they could consider cutting borrowing costs....more
Financial Times • 2024-04-24
Huw Pill, the Bank of England’s chief economist, signalled the UK central bank could diverge from the US Federal Reserve and cut interest rates even if its American counterpart holds borrowing costs higher for longer....more
Bank of England • 2023-12-07
Clare Lombardelli has been appointed as the next Deputy Governor for Monetary Policy at the Bank of England. She will join the Bank on 1 July 2024, succeeding Ben Broadbent whose second term as Deputy Governor ends on 31 August 2024....more
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