BoE in the Spotlight over Libor Fixing

3:30 AM ET Wed, 4 July 2012

"Around about the time of the financial crisis a lot of the Libor rates were quite elevated and it was used by the MPC as an indicator of the stress in the financial system when banks were finding it harder to access capital the spread went higher," Andrew Sentance, former monetary policy committee member at the BoE, told CNBC.