A Short History of the Bank of England

Dan Snow's History Hit

History Hit

History

4.7 • 12.9K Ratings

🗓️ 26 September 2022

⏱️ 23 minutes

🔗️ Recording | iTunes | RSS

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Summary

As the UK's bond market has suffered its biggest fall in decades and the pound has reached its lowest ever price against the US dollar, Dan talks to Dr Nuno Palma, a senior lecturer and associate professor in economics at the University of Manchester about the Bank of England. Dr Palma explains its historical role in Britain's imperial expansion and the industrial revolution and now how it's fighting to keep the British economy from the precipice.

This episode was produced by Beth Donaldson, the audio editor was Dougal Patmore.

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Transcript

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0:00.0	Every household will get help with energy bills this winter.
0:04.5	The UK Government is giving you an extra £400 to ward your bills.
0:10.4	For most households, payments are automatic.
0:14.2	If you're on a traditional pre-payment meter, you'll receive vouchers.
0:19.1	You will also get even more help with your bills, with the energy price guarantee.
0:24.6	Find out more at gov.uk forward slash help for households today.
0:33.2	Hi everybody, welcome to Dan Snow's History Hit.
0:36.5	The Pound has reached its lowest ever price against the US dollar.
0:43.0	The UK's bond market has suffered its biggest daily fall in decades.
0:50.0	It's now expensive for the UK Government to borrow money.
0:55.0	It's all looking pretty rough.
0:56.9	The perfect time, I thought, for a little economic history, folks,
1:00.6	a little financial economic history.
1:02.2	We're talking to Dr Nuno Palmer.
1:04.5	He's a senior lecturer, he's an associate professor in economics at the University of Manchester.
1:09.9	And he has written a lot about the Bank of England.
1:12.9	It's founding and its role in the long course of British history,
1:16.4	from underpinning British military and imperial expansion to the industrial revolution.
1:22.6	There is no better time to catch up with Nuno about the Bank of England.
1:27.1	As the bank fights on several fronts to keep the British economy from the precipice,
1:34.1	it's a really important bit of history this.
1:36.2	As he described it in the podcast, the industrial revolution could be the most important thing
	...

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