Definition of the Bank of England from the Oxford Advanced Learner's Dictionary

 

the Bank of England

 
BrE
 
; NAmE
 
 
jump to other results
the central bank of the United Kingdom, in London. It is the official source of all paper money in Britain, it advises the government on financial matters, and it acts as banker to the government and to other banks. It was privately owned until 1946, when it came under government control. Since 1997 it has been responsible for deciding on the minimum lending rate.