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Every story in sixty words

Explained in plain English

Who borrows from banks?

Banks lend money to all sorts of people and organisations. Individuals borrow for things like mortgages and car loans. Businesses borrow to expand or manage cash flow. Governments also borrow, often by issuing bonds. The Bank of England's decision to hold interest rates steady affects how much it costs for everyone to borrow.

Stories that explain this

Pound falls to $1.337 as the Bank of England holds interest rates

Questions this opens up

Who needs a mortgage? Why do businesses borrow? What are government bonds?

Related explainers

Who is the Bank of England? What is inflation? What are interest rates? Who pays interest? Why does the pound fluctuate? Why do rates change? What is a 'strong' pound? Why were bank accounts closed?

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