Cameron Cobbold, governor of the Bank of England from 1949 to 1961, was mainly known to the interested general public for saying: "The Bank of England is a bank, not a study group."
Words do not have an essential meaning. But for most people a bank is somewhere where you can hold your cash reserves without putting them under the mattress. It is also a place where small firms might go for finance and larger ones for temporary accommodation. By these standards, the Bank of England is hardly a norm
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