How to Describe Monetary Policy

…I was browsing around the internets and came across the Bank of England’s site, which nicely sums up its mission:

The Bank sets interest rates to keep inflation low, issues banknotes and works to maintain a stable financial system.

As opposed to the Federal Reserve:

The Federal Reserve, the central bank of the United States, was founded by Congress in 1913 to provide the nation with a safer, more flexible, and more stable monetary and financial system.

My guess is that the Bank of England took some time trying to make their job easier to understand. The Federal Reserve grabbed some boilerplate text and repurposed it for the web.

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