BANK OF ENGLAND

Bank of England

Bank of England

Introduction

In any modern economy, the central bank plays a vital role. Especially this statement is true in respect of Bank of England, first by virtue of the vital role played by U.K. banking sector, and secondly, due to the fact that the city of London is now one of the leading international financial centres in the world today. Bank of England is not formally an independent financial institution; the Treasury of the United Kingdom has the right to give orders to the Bank. But usually, the Treasury does not use this right, except for critical ...