The Bank of England has served the public for over 300 years by looking after the UK economy and financial system.
When you pay for things electronically, we are working behind the scenes to make sure you can make these payments every second of every day.
We also make sure high street banks are safe and sound, and look at the entire financial system to reduce risks and keep it safe so money flows to where it is needed most.
We set the key interest rate in the economy called Bank Rate...
…when you put money into a savings account.
Or when you take out a loan.
...which then filters down into the interest rates offered...
Businesses depend on loans to expand and hire more staff. So interest rates also matter for them and their employees.
Through everything we do, the Bank supports a strong and stable economy for the public we serve.
Interested to find out more?
Explore KnowledgeBank to discover various aspects of our role, explained in simple terms.