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Since some of the other banks on the market have closed or gone bust can the same happen to The Bank Of England Additional Details If thats possible what effect would that have on my money in a normal bank.
No, as long as people pay VAT on things they buy, and pay taxes then the Bank of England stays open.
The Bank of England is the government bank (where they keep all the tax pounds)
van-man
no they just can print more money
steven e
yes.it keeps the nations funds there.if it keeps bailing out these private companies like banks then there wont be much left.beware of inflation.
Ellie P
Let's hope not
junglejungle
nope is the simple answer, as they control the interest rates and can print as much / little money as they want.
Say what!!!!
Can the Titanic sink?
Nothing is impossible anymore, if that happens you would see a recession like you have never seen before.
Trinity
Bank of England notes only promise to pay the bearer the equivalent to the £ it represents on that note, so considering that the Bank of England actually gets paid back the same amount in sterling, it can't go bust.
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