BOE weather report is cloudy. While BOE Governor Carney said last week that discussions before 2013 only referred to non-bank players potentially trying to manipulate the fix, now Reuters reports that there are transcripts from chatrooms in 2012 where traders claimed that at a meeting the BOE agreed that there were advantages to banks sharing information on client fix orders. The BOE originally said that minutes of the meeting involved were not prepared until June 2013, but subsequent searches by the BOE found emails indicating the minutes were circulated in July 2012. And of course the BOE's suspension of an employee relating to this case muddies the waters further as to what the BOE knew and when regarding fx bank practices around the fix.
WM Reuters responded to an FT article last week that indicated that substantial changes to the fix would be coming shortly. In a Reuters report the WM Reuters company said that in the FT article "words (such as) 'planning' and 'overhaul' are wrong. It makes it sound like there is something imminent happening and there is not."
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