Bank of England

The "Old Lady of Threadneedle Street" is the national bank of the United Kingdom - guardian of the national currency, adviser to the government in financial matters and responsible for the amount of money in circulation, withdrawing old banknotes from circulation and issuing new ones. It also influences the level of interest rates, though in August 1981 it abandoned the practice of publishing a minimum lending rate (previously "bank rate"). The national gold reserves are kept in its vaults. The Bank of England was incorporated by royal charter in 1694 as a private company in order to finance the war against Louis XIV of France, and was brought under government control only in 1946. The majestic building which it occupies was designed by