Forex Dictionary Terms

Bank of England

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Definition – What does Bank of England mean?

The Bank of England is the central bank for the United Kingdom. The Bank of England handles monetary policy and produces economic releases about interest rates and inflation. Traders watch the actions and policy decisions of the Bank of England to assess the impact these will have on the GBP.

The Bank of England is also referred to as “The Old Lady.”

ForexTerms explains Bank of England

The Bank of England is an important source of information and, of course, one of the primary movers behind the pound. The Bank of England also starred in one of the greatest currency trades ever made, when George Soros made over $1 billion dollars by shorting the pound. Soros became known as the man who “broke the Bank of England.”

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