Bank of England

Bank of England
It is United Kingdom’s Central Bank. This bank is sometimes known as “Old Lady of thread needle Street. This Bank was established in 1694 and enjoyed independence in 1997. It stands at the center of the financial system of UK. This bank promotes and maintains fiscal and monetary stability as its influence to a strong economy. This bank has been serving people since three hundred years until it did not became nationalized in 1946. It plays a double role of consumer bank and government bank.In the year 1998, the governing body of this bank was alteredby the England Act. This bank handles the Equalisation Account. This was created in 1932 and influences the rate of exchange of the gold reserves of US.