Bank of England is the central bank of the United Kingdom. It corresponds to the Federal Reserve System of the United States and the Bank of Canada. It issues nearly all of the country’s bank notes. It handles the nation’s official foreign-exchange operations and manages its gold and foreign-exchange reserves.
The Bank of England is in London. It was founded in 1694. Only Sweden has an older central bank. The Bank of England was owned by private stockholders until 1946, when the government bought all its stock. The bank became independent in 1997.
