British Archives - Teaching Kids News Readable, teachable news. Thu, 29 Nov 2012 00:52:51 +0000 en-US hourly 1 https://wordpress.org/?v=6.4.3 https://teachingkidsnews.com/wp-content/uploads/2020/01/cropped-TKN_square_blk-32x32.jpg British Archives - Teaching Kids News 32 32 Bank Of Canada’s Loss Is England’s Gain https://teachingkidsnews.com/2012/11/28/1-bank-of-canadas-loss-is-englands-gain/ Thu, 29 Nov 2012 00:13:57 +0000 https://teachingkidsnews.com/?p=8334 On Monday, Mark Carney made news when he announced that he was leaving his job as Governor of the Bank of Canada to become the Governor of the Bank of England.

The governor of a country’s central bank watches over the country’s money, and sets interest rates for borrowing or lending money to governments and others.

The governor also has to make sure there is enough cash in government accounts to cover all the programs it runs.

The central bank's governor sets policies and rules for money matters at the highest level.

Carney told reporters that he took the job with the Bank of England because it will be a challenge.

He meant that he wanted to see if he could do a harder, or different, job than what he is doing now.

England is part of the United Kingdom, which is a member of the European Union.

Right now, the European Union is facing big decisions to make sure Europe’s financial future is strong.

Carney will have to help England to make those decisions.

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