ForeXistenZ › Central banks › BOE
Bank of England (BOE)
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The Old Lady of Threadneedle Street — sets UK rates and guards one of the largest gold vaults on Earth.
How the BOE moves the GBP
A central bank sets the interest rate on its currency. Traders compare that rate with the rates of other central banks; the wider the gap, the stronger the pull of money towards the higher-yielding currency. That is why the minutes before a BOE decision are among the most volatile of the month for the GBP. Book I and Book II of the ForeXistenZ trilogy show how to prepare for these days — and when to stay out.
Frequently asked
What does the Bank of England do?
The Old Lady of Threadneedle Street — sets UK rates and guards one of the largest gold vaults on Earth.
Where is the Bank of England?
The Bank of England (BOE) is in London, United Kingdom.
Why do forex traders watch the BOE?
Interest rates are the price of a currency. When the BOE raises or cuts rates — or only hints at it — money moves into or out of the GBP, and GBP/USD reacts within seconds.
Where are the BOE’s decisions published?
Official decisions, statements and the meeting calendar are published on https://www.bankofengland.co.uk.
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Other central banks
SNBSwiss National Bank
Zurich / Bern, Switzerland — Guardian of the Swiss franc, the safe haven the market runs to when fear rises.
ECBEuropean Central Bank
Frankfurt, Euro area — Runs monetary policy for the twenty countries of the euro, the world’s second reserve currency.
NORGESNorges Bank
Oslo, Norway — Runs the krone — and manages Norway’s oil fund, the largest sovereign wealth fund on Earth.
RIKSBANKSveriges Riksbank
Stockholm, Sweden — The oldest central bank in the world, founded in 1668.
NBPNarodowy Bank Polski
Warsaw, Poland — One of the most determined gold buyers among the world’s central banks.
CBRTCentral Bank of the Republic of Türkiye
Ankara, Türkiye — Fights for the lira — a lesson in what inflation does to a currency.