The economic historian and former trader Anne Murphy looks back at the Bank of England in the 18th century. In Virtuous Bankers she shows how a private institution became ‘a great engine of state’ and central to Britain’s economic and geopolitical power. Anne Murphy tells Adam Rutherford that both its inner workings and outer structure had to command the respect of the general public. Interest was a fact of life long before the involvement of central banks and goes back as far as ancient Mesopotamia. In Price of Time the financial historian and Reuters’ commentator Edward Chancellor explores its long history and warns of the financial instability caused by years of low interest rates. Far from benefitting the majority of individuals, the ultra-low rates following the banking crash in 2008 have proved a boon for bankers, financiers and corporate stakeholders. After the crash, the businessman David Fishwick was concerned that few people or small businesses in his home town of Burnley could get access to credit. His challenge to the traditional high street banks was to set up his own banking enterprise which became Burnley Savings and Loans – a story told in a Channel 4 series and the film Bank of Dave (on Netflix). He argues for a return to banking as a means to serve and grow the local economy. Producer: Katy Hickman