The New Old Lady
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The Bank of England has already cropped up a number of times in this account of the City of London. In the previous chapter we considered its key role in ensuring the liquidity of the short-term money markets, and its influence over both long- and short-term interest rates. Earlier, there were oblique references to the Bank’s role in the supervision of City markets as well as to its advice to government regarding the control of them. It has appeared so far as a stately amalgamation of spy, nanny and friend to the other financial operators of the City. Perhaps this is not so wide of the mark.
KeywordsExchange Rate Monetary Policy Central Bank Banking Sector European Central Bank
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