The Bank of England is controlled by the UK government, specifically the Treasury Solicitor on behalf of the government who holds the bank's entire share capital. However, it is operated independently with its primary goal to ensure monetary stability and the soundness of the UK's financial system. The Bank of England's policies and decisions are made by several committees, including the Monetary Policy Committee and the Financial Policy Committee. The Governor of the Bank of England is appointed by the Monarch on the advice of the Prime Minister and the Chancellor of the Exchequer.

The Bank of England is the central bank of the United Kingdom and is responsible for setting monetary policy, issuing currency, and maintaining financial stability. It is controlled by the Monetary Policy Committee (MPC), which is made up of nine members: the Governor of the Bank of England, the three Deputy Governors for Monetary Policy, Financial Stability, and Markets and Banking, the Bank’s Chief Economist, and four external members appointed by the Chancellor of the Exchequer. The MPC is responsible for setting interest rates and other monetary policy decisions to meet the government's inflation target. While the Bank of England operates independently, it is accountable to the UK Parliament and the government.