BoE’s has published its Annual Report and Accounts for 2016/2017 which sets out its main achievements for the year, including:
- Its One Bank strategy which aims to create a single, unified, institution across all its functions, with a single mission to ‘promote the good of the people of the United Kingdom by maintaining monetary and financial stability’. According to BoE the strategy has been instrumental in achieving its objectives and has delivered real organisational and cultural change;
- The delivery of complex cross-Bank workstreams including policy issues such as the housing market and stress testing and vital core initiatives such as information security;
- Its new approach to recruitment and talent management in order to attract and inspire the best people to public service, reflecting the diversity of the United Kingdom; and
- Amongst other things, its innovative Research Hub, the development of new reforms both domestically and internationally and the relaunch of its monetary policy communications campaign.
Although BoE has implemented 95% of its One Bank strategy, it recognises that there is still more work to do and has therefore launched ‘Vision 2020’, a three year strategy that will consolidate and build on the success of our One Bank strategy.