Want2know asked:
Can anyone explain to me the Bank of England’s role in the UK economy?
Many thanks
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What role does The Bank of England play when it comes to the UK economy?
Comments 1
The Bank of England is England’s Central Bank. Or in US terms, its their Federal Reserve. Its linked to their economy at birth, because without it, there would be no UK economy.
I’m not sure what you are asking, but every economy needs a Central Bank if it uses a fiat currency. Now if it uses Gold, then each person with gold in their pocket is the countries Central Bank. But since the economies of the world have rid themselves of Gold Money, the rise of the Central Bank dominates the economy of its home country.
Posted 07 Aug 2008 at 8:37 pm ¶Post a Comment