BoE traders face probe

An independent inquiry into what the Bank of England knew of alleged currency market collusion will quiz senior traders about what guidance they received from the UK’s central bank as far back as 2012.

Anthony Grabiner, a barrister appointed by the bank’s oversight committee in March, has set up a series of interviews with the currency dealers who attended a critical meeting with BoE officials two years ago — one year before a worldwide investigation into alleged collusion and manipulation was launched.

Accounts of the April 2012 meeting of chief dealers — a subgroup of the BoE’s foreign exchange joint standing committee — are key to traders’ claims that central bank officials turned a blind eye to, or even condoned, activity that regulators are now poring over.