Bank suspends worker in rigging probe

Reports say that the Bank of England has suspended a member of staff after investigating potential rigging of the foreign exchange market.

The central bank has been reviewing whether members of its staff knew about, or overlooked manipulation in currency markets.

Market-rigging is not condoned “whatsoever”, it said in its statement.

Claims of currency market manipulation follow fines for lenders found to be manipulating or attempting to manipulate Libor, the rate at which banks lend to each other.

Barclays, Royal Bank of Scotland and UBS have been ordered to pay a total of $6bn in fines for Libor fixing.