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BOE Quarterly Bulletin 2015 Q3
The issuance of banknotes is probably the most recognisable function of the Bank of England. People use banknotes as a store of value and as a medium of exchange when buying or selling goods and services. The Bank of England seeks to ensure that demand for its banknotes is met, and that the public retains confidence in those banknotes. The payments landscape has changed considerably in recent decades. People can now make payments using debit and credit cards, internet banking, mobile ‘wallets’ and smartphone apps. Yet cash continues to be important in the United Kingdom, with demand for Bank of England notes ... (full story)
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