Central banks launch joint investigation into Libor scandal

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Mervyn King, the governor of the Bank of England and chair of the Economic Consultative Committee, today (September 10) announced a group of "senior officials" would look into the issues surrounding reference rates used in financial markets.

The decision to discuss the situation regarding in particular the Libor rate-setting scandal that gripped UK banks at the Basel meeting of central bankers had been made weeks before. King clearly followed through with his promise to raise the matter with the

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