The decision comes despite evidence that implicates the Bank of England. It means no one will now be prosecuted in the UK for so-called "low-balling", where banks understate interest rates they pay to borrow cash. The Serious Fraud Office (SFO) said its decision followed a detailed review of the evidence.


A further 11 traders have been prosecuting for manipulating Euribor, the eurozone equivalent of Libor. The SFO said aspects of its Euribor investigation remain open.

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