During and after the Second World War, the influence of the Bank of England in shaping economic governance remained ambiguous. It did not play a significant role in the formative negotiations at the 1944 Bretton Woods Conference, nor was sterling viewed as the definitive international reserve currency in the decades thereafter. Yet with the repeated threats to the British economy, from two devaluations to the devastating IMF loan, the central bank again turned to experts who could offer new perspectives on monetary policy. Over the course of the twentieth century, the Bank began to employ economists who brought novel macroeconomic models into policy discussions. Although the initial postwar years saw its power remain in a state of uncertainty, the Bank was able to reestablish its reputation as a leading monetary authority from the 1980s onward.