Submitted by Tyler Durden on 03/11/2014 12:39 -0400
“We can’t come out of this with a shadow of doubt about the integrity of the Bank of England,” Governor Mark Carney told MPs this morning on the heels of the report, as we noted here, that found no collusion by the bank to manipulate FX rates. A senior BoE employee was told of “attempts to move the market” but “did not convey to [Monetary Policy Committee member Paul Fisher] that markets were being rigged,” and therefore was suspended. While many have called this “as bad as Libor” the BoE remains adamant of its lack of involvement but is still restructuring itself – adding that “it isn’t our job to go out hunting for rigging of markets.” Nope, just to ignore it, we presume. MPs were not impressed.