Libor: Bank of England implicated in secret recording – BBC News

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A secret recording that implicates the Bank of England in the Libor rigging scandal has been uncovered by the BBC’s Panorama programme. Libor is the rate at which banks lend money to each other and it sets a benchmark for mortgages and loans for regular customers. The 2008 recording adds to evidence the central bank repeatedly pressured commercial banks during the financial crisis to push their Libor rates down.

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