The Governor concludes that this new framework sets out the functions of the Bank more clearly than ever before, defining its responsibilities, the powers to exercise those responsibilities, and the lines of accountability to the Government, to Parliament and to the public at large. The Bank remains a bank, as it always has been, at the heart of the financial system, but it now has a more precise framework for its operations, which is more appropriate to modern times.
The New Lady of Threadneedle Street