Financial literacy

Profile of the Bank of England

Aims to maintain monetary and financial stability. The Monetary Policy Committee which sets interest rates meets eight times a year. The Bank receives guidance from Her Majesty's Treasury on an inflation rate target which stands at 2 percent that assumes a slow and steady price rise.

The Bank provides financial stability, a sound payments system and an environment for safe borrowing. It regulates 1500 financial firms, banks, insurance companies. Ensures they have good financial backing and safe risk management controls.

It gives confidence in the system of bank notes. There are four billion bank notes in circulation. Polymer notes can last five years, paper notes a matter of months.

See Bank of England's website for its education resources.