Bank of England
The Bank of England is the central bank for the United Kingdom, and is more formerly known as the Governor and Company of the Bank of England. The majority of large banks based is the United Kingdom are based around the model of the Bank of England. Initially established in the year 1694, the Bank of England was first created to operate as the English Government’s banker, which today, still functions so being the banker for Her Majesty’s Government.
The most notable changes to the Bank of England came in 1946 where it was nationalised, and 1997 where it announced itself as an independent public organisation – still owned by the Government, but now has the power to endorse and set monetary policy.
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