Tim Bennett Explains: The role of the Bank of England

[@sallygibson826]

Thank you Tim. Another brilliant video.

[@BluePaperUmbrella]

Great video. Really clear explanation.

[@davidlloyd3116]

What happens when interest rates go negative (as happened in Japan)?

[@paulholborn3858]

Would be great for an update.

[@dantheman1337]

Centralised monopolistic price fixing ( base rate) and money counterfitting.

[@alexandermcclymont9131]

Well done.

[@josedro]

He is explicitly saying that the Bank of England does not belong to the English people. Belongs to... Well I think you know who owns the Bank

[@silaswegg2480]

I don't understand "sets interest rates". Surely if I am a Bank or Financial Institution and I want to attract more money I just put up my interest rates. What has that got to do with the Bank of England "setting interest rates" If we are in a free market surely everyone is free to set their own interest rates. What has the Bank of England pronouncing interest rates got to do with this?

[@kayleigh8582]

I think he means for example if you have a credit card and they keep rising interest… then u can transfer the balance to a credit card with the bank and the interest is lower and it’s fixed so u save money while the bank keep inflation up… I think anyway lol

[@kayleigh8582]

If you have debt and no assets go citizens advice and get it cleared for £90 u just have to stay out of debt for 12 months then ur credit report starts fresh

[@josh429]

thanks

[@kayleigh8582]

Or go to citizens advice and do a debt relief for £90 then u have a fresh start but u can’t have assists. And clears debt up to 25k I think it’s gone up to now!! All bills cleared everything except court orders. Even bailiff 😂 just hold it to the window to them and they have to leave u alone. But u can’t get in debt for 12 months or they can reinstate all your debt