The Bank of England implicated in the 'fixing' of LIBOR. Quelle surprise.
As in my view (and the view of many others) the Bank of England's first of two main purposes is to 'fix' interest rates at a level less than the market would voluntarily lend to the government at, it is hardly surprising that they were, allegedly, helping to 'fix' LIBOR.
(The second main purpose of the Bank of England is, having borrowed money at below market rates for the government, to work out how not to pay it back.)
Monday, 10 April 2017