“The Bank of England today launched its Strategic Plan, following a six month exercise led by the Executive Committee of the Bank. The Plan, to be implemented over the next three years, provides an ambitious agenda to transform the institution to take full advantage of the Bank’s expanded policy responsibilities. It will create a single, unified institution – One Bank – that will maximise its impact by working together across all its functions. At the core of the Strategic Plan lies a shared vision for the Bank, embodied in a new mission statement: promoting the good of the people of the United Kingdom by maintaining monetary and financial stability. This statement reflects the Bank’s two core objectives, but also recognises that monetary and financial stability are not ends in themselves, but necessary pre-conditions for delivering the public good. As such, the Bank’s previous commitment to two core purposes has been recast into this single mission statement. It also respects the timeless public service mission of the Bank, which has been in place since its original 1694 charter.”
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