All of these banks are really in control of short-term interest rates and these interest rates are used to try to manage and stabilize the economy.

所有国家的中央银行都可以,控制短期利率,通过控制短期率达到,管理和稳定经济的作用

耶鲁公开课 - 金融市场课程节选

In other words, the banks were like customers of the Bank of England; they had to keep deposits there and the Bank of England watched them to make sure that they were behaving responsibly and had authority over them because it had market power.

换句话说，其他银行在英国就像是英国银行的客户;,其他银行不得不把钱存放在英国银行那,英国银行业负责监管着,其他银行的商业行为,也指挥着其他银行,因为英国银行有着控制市场的力量。

耶鲁公开课 - 金融市场课程节选