This page gives a short overview of the interesting museum about currency and money in the city center, which you can visit for free.
What is the Bank of England ?
The Bank of England is not only the central bank of England, but of the whole United Kingdom. It is the guardian of the British pound. The Bank of England determines the monetary policy and monetary policy of Great Britain. Since the country is not a member of the Eurozone, this applies to both the period as an EU member and the post-Brexit period. For example, the Central Bank of England is responsible for the money supply of the pound sterling, indirectly for the inflation rate. The Bank of England also sets interest rates such as the discount rate. The comparable institution for euro countries is the European Central Bank in Frankfurt.
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What to see in the Central Bank Museum ?
Part of the interesting Bank of England Museum deals with the history of the British central bank. Elaborately reconstructed is an office from the 18th century. In other rooms things from modern banks are exhibited. One can see many old banknotes (one with an imprinted value of 1 million pounds), coins, old securities and gold bars. You also get a lot of information about banking, currency systems like the gold standard and much, much more.
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General information about the exhibition
Opening hours Bank of England Museum 2023: Monday to Friday from 10 am to 5 pm (the entrance closes at 16:30), the Bank of England Museum is closed on weekends and holidays. (as of early 2022)
Admission price Bank of England Museum 2023: Admission is free. This is the case in many state museums in London.
Directions Bank of England Museum: The Bank of England exhibition is in the financial district of City of London. The best tube station has the simple name “Banks” (for example Central Line, on tube map this line has bright red color). This tube station is only 100 – 200 meters from the entrance of the museum. Sights nearby include St Paul’s Cathedral (one metro stop west), Tower London with the Crown Jewels and the most famous bridge in London.
The Bank of England Museum is a must-visit for any person interested in the history of finance, banking and economics. Located in the heart of London’s financial district, the museum offers a wealth of information about the history, workings and role of the bank in the British economy.
The museum is located in the building of the English Central Bank from the XVIIIth century. Century, which is an excellent example of Georgian architecture. Visitors can view the museum’s collection of artefacts and exhibitions, which date back more than 300 years and provide information about the bank’s role in the financial system of the United Kingdom.
One of the attractions of the museum is the collection of banknotes and bank goods, which includes some of the rarest and most valuable banknotes in the world. Visitors can view the collection, which is over 300 years old, and learn about the history of money and currency in Britain.
Another popular exhibit is the bank’s gold vault, which contains more than 400,000 gold bars, making it one of the largest gold deposits in the world. Visitors can tour the vault and learn about the bank’s role in securing the country’s gold reserves.
The museum also features interactive exhibits that allow visitors to learn about the Bank’s monetary policy and its impact on the economy. These exhibits use multimedia technology to explain complex concepts such as inflation, interest rates and economic growth in an engaging and understandable way.
Other exhibits include a history of the bank’s architecture, a display of antique banking equipment and a fascinating exhibition on the bank’s involvement in war finance during the Second World War.
Visitors can also take part in a guided tour of the historic Bank of England building, which includes a visit to the Bank’s working areas, including the Governor’s office and the boardroom where interest rates are set.
In addition to the exhibitions and guided tours, the museum also offers a range of events and activities for visitors of all ages. These include lectures, workshops and family-friendly events designed to educate and entertain visitors.
Overall, the Bank of England Museum is a must-see destination for anyone interested in the history of finance and banking and its role in shaping the British economy. With its impressive collection of artefacts, interactive exhibitions and guided tours, the museum offers a unique and fascinating look at one of the world’s most important financial institutions.