BOE stands for the Bank of England, which is the central bank of the United Kingdom. The Bank of England is responsible for implementing monetary policy in the UK, with the goal of maintaining price stability and promoting economic growth.
As part of its mandate, the Bank of England sets the country’s interest rates, including the base rate, which is used as a benchmark for other interest rates in the economy. Changes in interest rates can have a significant impact on the value of the British pound in forex markets, as higher interest rates can attract foreign investment and lead to a stronger currency.
In addition to its role in monetary policy, the Bank of England also acts as the regulator of the UK’s financial system, overseeing banks and other financial institutions and working to maintain financial stability. It also conducts research and analysis on economic and financial issues, and works with other central banks and international organizations to promote financial cooperation and stability.