BANK OF ENGLAND Definition & Meaning

Bank of England

noun

the central bank of the United Kingdom, which acts as banker to the government and the commercial banks. It is responsible for managing the government's debt and implementing its policy on other monetary matters: established in 1694, nationalized in 1946; in 1997 the government restored the authority to set interest rates to the Bank

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He added the Bank of England could save money by changing its quantitative easing programme.

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Mortgage approvals for house purchases, which is an indicator of future borrowing, decreased for the fourth consecutive month in April, according to the latest figures from the Bank of England.

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Northern Rock relied on borrowing funds to finance its own risky mortgages and in 2007, the BBC reported that it had turned to the Bank of England for help.

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The Bank of England has previously said it expects inflation to peak at 3.7% between July and September this year, before slowly falling.

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But price pressures in other services – such as restaurant meals – remain higher than the Bank of England would like to see.

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bank note bank of issue

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Bank of England

noun

Example Sentences