Bank of England (BOE)

The Bank of England is the United Kingdoms central bank. The current BOE governor is Mister Mervyn King; he has been at the head of the English central bank since 2003.

The Bank of England (nicknamed «The Old Lady of Thread needle Street») was founded in 1694. After its nationalization in March 1946, it later became independent of the government in 1997.

The role of the BOE is to run the monetary policy by maintaining the United Kingdoms monetary and financial stability.

As the European Central Bank, the Bank of England is the only one which can issue the national currency (Sterling Pound) and is the lender of last resort for the commercial banks.