About us
As the UK’s central bank, we’re involved in a wide range of high-profile and complex work to ensure monetary stability and to support financial stability. You probably already know that we’re responsible for setting interest rates and controlling inflation, and you might even be aware that we manage the circulation of banknotes in the UK.
But we think you’ll be surprised at the broad variety of other work you could experience with us. The Bank fulfils a number of important functions within the economy – operating the high-value payment system between banks, for example, managing the UK government’s foreign exchange reserves, and identifying the risks that threaten the financial system as a whole.
Our remit is not just wide-ranging, it’s also remarkably dynamic. We have played a fast-moving role in responding to the recent crisis in global financial markets. Our Special Liquidity Scheme, for instance, is an important contribution to improving liquidity in the sterling money market. It allows banks to temporarily swap some illiquid assets for UK Treasury Bills, and aims to improve confidence within financial markets and promote the long-term stability that benefits everyone.