The First World War and its aftermath destabilized the international economic system. From volatile exchange rates and hyperinflation to industrial stagnation and mass unemployment, the collective challenges facing the nations of Europe threatened to undermine the prevailing order. In response, the Bank of England assumed a set of responsibilities aimed at upholding the City of London as an international financial center. It employed technical advisers who were able to shape domestic industrial policy, coordinate the creation of new central banks across the empire, and exert additional pressure on foreign governments abroad. Through these interventions, the Bank established a reputation as a leading monetary and intellectual authority and, in the process, redefined the structures of economic governance.