In a statement, the Bank said its review of documents, emails and other records had to date found no evidence that its staff colluded in any way in manipulating the FX market or in sharing confidential client information.
However, it added it “requires its staff to follow rigorous internal control processes and has today suspended a member of staff, pending investigation by the Bank into compliance with those processes.”
The Bank also stressed it continues to support the FCA’s wider investigation into the foreign exchange market.
This is the first time that a Bank of England employee has come under scrutiny, with Barclays, RBS and UBS having all previously received fines for Libor fixing.
