I have been surprised:
- How many people search that question on Google
- How many people don't believe the explanation. For some reason many people think it is owned by the Rothschilds.
The Bank of England is the central bank of the United Kingdom and was established as a corporate body by Royal Charter under the Bank of England Act 1694. The Bank was nationalised on 1 March 1946, and gained operational independence to set interest rates in 1997 (the Bank of England Act 1998 Part II sets out the responsibilities and objectives of the Bank in relation to monetary policy).Interestingly, there is a similar conspiracy theory about Who owns the Federal Reserve? - Again many people believe it is owned by private bankers such as the Rothschilds and it is intent on fraudulently extorting billions of pounds from honest hard working Americans.
The Bank is a public sector institution, wholly-owned by the government, but accountable to Parliament. The entire capital of the Bank is, in fact, held by the Treasury solicitor on behalf of HM Treasury. Each year, the Bank is required to submit its Report and Accounts to Parliament, via the Chancellor of the Exchequer. For more information you may be interested to see the Bank's latest Report and Accounts, which can be found on our website at:
Bank of England Annual Reports
As to the supposed 'Rothschild' connection, I don't know why people should think that the family own us. But a number of the Rothschilds have served on the Bank's Court of Directors over the years.