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Bank of England Unveils New London Hub for Office for National Statistics

  //house-home.news-articles.net/content/2025/12/1 .. ndon-hub-for-office-for-national-statistics.html
  Published in House and Home on Wednesday, December 17th 2025 at 8:33 GMT by The Independent
      Locale: England, UNITED KINGDOM

Bank of England’s New London Hub: A New Chapter for the Office for National Statistics

The Bank of England (BoE) has unveiled plans to open a new office in London that will become the headquarters of the Office for National Statistics (ONS). The move is part of a broader strategy to bring the nation’s statistical engine closer to the financial and policy heart of the country and to create a state‑of‑the‑art data centre that can support the BoE’s own data‑driven responsibilities.

Why the Move Matters

The ONS has long been the UK’s primary provider of official statistics, covering everything from population counts to inflation, employment and productivity. Until now, the agency has operated out of a small building in central London, but its growing data demands – driven by the shift to real‑time analytics, machine learning and “big data” – require a vastly larger footprint. The BoE’s new 2‑storey site in the Bank of England Tower will offer 10,000 square metres of floor space, the equivalent of three football pitches, to house a data‑centre that can handle 40,000 terabytes of information.

Mark Harris – the ONS’s deputy chief executive – has said that the new facility will be “a transformative change that will modernise the way we collect, store and analyse data.” He pointed out that the new hub will not only provide the ONS with the space it needs but also bring it in closer contact with the BoE’s research and analytics teams, facilitating faster data sharing for policy decisions.

The move is also a tangible step toward the BoE’s own “Digital Bank” strategy, which aims to deliver real‑time data services for the financial sector and public‑sector decision makers. By situating the ONS on the same site, the Bank can leverage shared infrastructure – from high‑speed fibre optics to advanced cybersecurity – to improve the reliability and security of UK statistics.

A New Data‑Centre for the 21st Century

The ONS data‑centre will be powered by a “cloud‑first” architecture that integrates on‑premise servers with cloud‑based storage and analytics platforms. According to the BoE, the new system will be able to ingest and process real‑time data feeds from millions of sources – including national tax systems, banking transactions, and consumer‑facing surveys – in near‑real time.

“By using a hybrid cloud architecture we can combine the flexibility of the cloud with the security and control of on‑premise data,” says David Stott, BoE’s head of digital strategy. “The ONS will be able to publish data sets as soon as they are ready, and policy makers will have instant access to insights that were previously weeks or months old.”

The new centre will also feature a “data lake” that consolidates disparate data sets – from census records to business surveys – into a single, accessible platform. The data lake will be governed by a rigorous data‑quality framework that includes automated validation checks and human oversight. As part of the BoE’s wider digital transformation, the centre will support advanced analytical tools, such as natural‑language processing and predictive modelling, to turn raw data into actionable insights.

The ONS and the BoE: Complementary Roles

The BoE and the ONS have long shared a symbiotic relationship. The BoE relies on the ONS’s output for its monetary policy decisions – the BoE’s flagship inflation metric, the CPI, is produced by the ONS – and for assessing the health of the economy. In return, the ONS benefits from the BoE’s vast data resources and research expertise.

Mark Harris has described the collaboration as “a partnership that has always been built on mutual trust.” He highlighted that the BoE’s commitment to the new office demonstrates a recognition of the importance of high‑quality statistics for economic stability. “Statistical accuracy is not just about numbers; it’s about building confidence in the economy,” he said.

The BoE’s own data teams will be responsible for maintaining the new facility and for ensuring that data security protocols – including encryption, multi‑factor authentication and continuous monitoring – are upheld to the highest standards. This is particularly important given the increasing threat landscape and the sensitive nature of some statistical data.

What This Means for UK Citizens

The new office is expected to improve the timeliness and granularity of statistical releases. For instance, the ONS could publish monthly employment figures in real time, rather than waiting for a quarterly report. This would give policymakers, businesses and researchers more accurate, up‑to‑date information for decision‑making.

Moreover, the new data‑centre will enable the ONS to offer “open data” services that allow external developers, researchers and the public to access datasets more easily. This can spark innovation – from new apps that track local economic trends to academic studies that better understand social inequality.

“The goal is to make statistics more accessible, more transparent and more useful for everyone,” says Mark Harris. He added that the BoE’s involvement will also help keep the ONS’s data infrastructure ahead of emerging threats and technological changes.

Key Milestones and Future Plans

The BoE has laid out a phased rollout for the new office. Construction began in early 2023, with the first floor expected to be operational by late 2025. The ONS will initially move its core analytical teams into the new building, while support functions will follow over the next two years. The BoE also plans to host an annual “Data and Statistics” summit at the new site, bringing together government, industry and academia to discuss best practices and future trends.

Financially, the project is estimated to cost around £60 million, funded jointly by the BoE and the Department for Business, Energy and Industrial Strategy (BEIS). While the cost is significant, the expected benefits – from improved policy responsiveness to increased trust in government data – are viewed as a worthwhile investment.

Conclusion

The Bank of England’s new London office marks a historic moment for the Office for National Statistics. By moving to a modern, secure, and technologically advanced environment, the ONS will be better equipped to deliver accurate, timely, and granular statistics that underpin the UK’s economic policy and public trust. With Mark Harris at the helm, the agency is poised to harness the power of big data, machine learning, and cloud analytics to bring the UK’s statistical ecosystem into the 21st century. This collaboration is not just a physical relocation – it’s a strategic step toward a data‑centric future for the United Kingdom.