2007-03-17 04:58:38 · 5 answers · asked by paul t 4 in Business & Finance ➔ Other - Business & Finance
The Bank Of England is a central bank, and handles the monetary policy of the UK. In a way, they are the bank for the Government. Other banks, known as the 'high street banks' are there for customers to use for normal bank accounts etc.
The Bank of England also issues banknotes for England and Wales. In Scotland and N Ireland, the high street banks can also issue banknotes, but only with the Bank of England's consent.
2007-03-17 05:05:35 · answer #1 · answered by calibrax@btinternet.com 2 · 2⤊ 0⤋
The Bank of england is independant
2007-03-17 05:10:47 · answer #2 · answered by newciderman 6 · 0⤊ 0⤋
basically they control the countries money. gorden brown extended there powers so they can independently set interst rates and rates on inflation. this means that in effect they control all of the banks in england because they set there basic interest rate. they also control ( along with the chancellor) britains ever depleting gold reserve. ( a gold reserve that gorden brown has continually sold off, losing the country approxoimatly 3 billion pounds since the gold price has risen)
2007-03-17 05:25:47 · answer #3 · answered by Anonymous · 0⤊ 0⤋
They are the only bank that will operate accounts for Huntingdon Life Sciences.
2007-03-17 05:01:50 · answer #4 · answered by Finbarr D 4 · 0⤊ 0⤋
The Government banks with them, i.e. they look after all our tax money and any income generated by UK plc.
2007-03-17 05:06:49 · answer #5 · answered by Jimbobarino 4 · 0⤊ 0⤋