Bank of England
The Bank of England (BoE) is the central bank of the United Kingdom. The role of central banks is to preserve the value of money by keeping inflation low and stable. They do this by controlling the interest rate at which banks can borrow.
Interest rates, inflation, and exchange rates are all intrinsically linked. When the BoE manipulates interest rates this impacts both the inflation in the UK and also the relative value of the British pound compared to other currencies.
Read our guide to the Relationship between Interest Rates and Currencies.
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