Home Business NewsFinance News Mark Carney to be quizzed by MPs over forex fixing today

Mark Carney to be quizzed by MPs over forex fixing today

by LLB Editor
11th Mar 14 9:26 am

Bank of England Governor Mark Carney is set to appear before the Treasury Select Committee over the bank’s alleged forex rate fixing.

This is after minutes of meetings from 2006 were published last Wednesday following a Freedom of Information request. The records show that a senior member of the Bank of England’s staff was told of “attempts to move the market”.

The Bank said that there was no evidence to prove the allegations. However, one member of staff has been suspended over compliance concerns.

Committee member Andrea Leadsom said that Carney would be questioned on whether the bank “did nothing” about forex rigging suspicions.

“It looks to me that the bank could be accused either of complacency or extreme naivety,” the Conservative MP for South Northamptonshire told the BBC.

“What we need to know is that they themselves are sufficiently governed,” she said.

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