BoE's Bailey: no evidence Bank knew of any forex manipulation

LONDON Tue Feb 11, 2014 5:31am EST

LONDON Feb 11 (Reuters) - The Bank of England said on Tuesday it has seen no evidence to back claims it condoned or was aware of manipulation in the foreign exchange market.

Andrew Bailey, BoE deputy governor and chief executive of the Prudential Regulation Authority told parliament's Treasury Select Committee the central bank has see "no evidence yet to substantiate claims that a Bank official in any sense condoned" foreign exchange manipulation.

"The Bank of England does not condone any form of market manipulation in any context whatsoever," Bailey said.

Bailey said the claims, which the central bank first heard about last October, were being taken "very seriously" and a review has been initiated, led by internal and external legal counsels.