Bank of England

The Bank of England is the United Kingdom's central bank, responsible for monetary policy and financial stability. It has recently kept interest rates at 3.75%, a decision influenced by concerns about inflation, the potential for economic slowdown, and geopolitical events like the Iran conflict impacting energy supplies. Despite positive unemployment figures and wage growth, the Bank is cautious about reacting too quickly to inflation threats. The Bank is also involved in developing a central bank digital currency ('Britcoin'), a plan facing opposition. Furthermore, it has issued warnings about AI-generated scams, including deepfakes involving its governor, Andrew Bailey, and public figures like Nigel Farage. The Bank is also in the process of selecting new designs for UK banknotes, featuring wildlife, which has drawn some public criticism.