Latest Monetary Policy News

UK – London – The City: Bank of England and First World War Memorial


Image by wallyg
The Bank of England is the central bank of the United Kingdom, and as such it convenes the Monetary Policy Committee, which is responsible for the monetary policy of the country. It was established in 1694 to act as the English Government’s banker, a role which it still fulfils today. The Bank’s building is located in the City of London, on Threadneedle Street, and hence it is sometimes known as The Old Lady of Threadneedle Street or The Old Lady.

The Bank of England performs all the functions of a central bank. The most important of these are maintaining price stability and supporting the economic policies of the UK’s government, thus promoting economic growth.

The bank was founded by the Scotsman William Paterson, in 1694 to act as the English government’s banker. The Royal Charter was granted on July 27, 1694. In 1734 the Bank moved to its current location on Threadneedle Street, slowly acquiring the land to create the edifice seen today. Sir Herbert Baker’s rebuilding of the Bank of England, demolishing most of Sir John Soane’s earlier building was described by Pevsner as "the greatest architectural crime, in the City of London, of the twentieth century".

Placed in front of the Royal Exchange, the First World War War Memorial honours the London men who died in World War I. Designed by Aston Webb and sculpted by Alfred Drury, it’s stone column flanked by two life sized bronze soldiers. On top is a lion, and a shield showing Saint George and the dragon. The list of London battalions is inscribed upon it but sadly, does not mention the Kings Royal Rifle Corps and Rifle Brigade, who recruited mainly from London. Of the fifty two battalions of the Royal Fusiliers involved, it only lists four. It was erected in 1920.

Tags: , , ,

Comments are closed.

CIGI Experts Outline Prescriptions for Cannes Summit and Beyond in Special Report on G20 Issues

Waterloo, Ont. (PRWEB) October 20, 2011 With a possible euro zone collapse and Greek insolvency likely to dominate the upcoming [...]

Pathways Home Health and Hospice Satu Johal Receives CFO of Year of the Year Award; Silicon Valley Business Journal Honoree

Sunnyvale, California (PRWEB) December 02, 2011 Satu Johal, CFO at Pathways Home Health & Hospice, received the Silicon Valley Business [...]

Latest Financial Regulation News

Working Together Towards Better Financial Regulation and Stability in Asia Image by Asian Development Bank Tellers attend to clients in [...]

European financial regulation – 4 questions to Olivier Garnier (Societe Generale)

Olivier Garnier, Chief economist at Societe Generale Group, expresses his view on European financial regulation and its reform. Video interview [...]

AMS Health Care Mortgage Corporation Provides Debt Service Savings to Hospitals Utilizing FHA 242 Mortgage Insurance Program

Jacksonville, FL (PRWEB) August 30, 2013 An oft-overlook and relatively unknown federal program for hospitals seeking capital for needed and [...]

Vermont’s Captive Insurance Industry Off to Best Start Since 2005

Montpelier, VT (PRWEB) April 16, 2012 First quarter licensure of new captive insurance companies is off to a strong start [...]