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Bank of England

the central bank of the United Kingdom, which acts as banker to the government and the commercial banks. It is responsible for managing the government's debt and implementing its policy on other monetary matters: established in 1694, nationalized in 1946; in 1997 the government restored the authority to set interest rates to the Bank
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition
© William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
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