How the Bank of England is supporting the pound
The Bank of England stepped in to calm financial markets after steep falls in the value of the pound and a surge in the UK's borrowing costs.
Its main job is to manage the overall state of the economy, and the stability of the financial system. A central bank can also be a lender to other banks.Streets around the Bank of England's headquarters were destroyed during the Blitz If a government wants to borrow money for its spending plans, they often do it by selling bonds to investors such as big pension funds or banks.
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