UK Government, the Law and Your Role
What is the Bank of England responsible for?
ARunning, regulating and directly owning all UK high-street commercial banks
BSetting monetary policy including interest rates and issuing English banknotes ✓
CCollecting income tax, VAT and all other taxes directly on behalf of the government
DManaging and refinancing only the national debt and all government borrowing
Explanation
The Bank of England is the UK's central bank. It sets interest rates (via the Monetary Policy Committee), issues banknotes in England and Wales, and regulates the financial system.
mediumbank of englandinterest ratesmonetary policy
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