when was bank of england established
The Bank of England, formally the Governor and Company of the Bank of England, is the central bank of the United Kingdom and the model on which most modern central banks have been based. Established in 1694, it is the second oldest central bank in the world, after the Sveriges Riksbank, and the world's 8th oldest bank.It was established to act as the English Government's banker, and is still the banker for the Government of the United Kingdom.The Bank was privately owned by stockholders from its foundation in 1694 until nationalised in 1946.ark Carney assumed the post of The Governor of the Bank of England on 1 July 2013. He succeeded Mervyn King, who took over on 30 June 2003. Carney, a Canadian, will serve an initial five-year term rather than the typical eight, and will seek UK citizenship. He is the first non-British citizen to hold the post.