Bernanke urges rethink on 'flawed' LIBOR

Natalie Kenway

Ben Bernanke, chairman of the US Federal Reserve, branded LIBOR "structurally flawed" in his first remarks since Barclays was fined £290m for attempting to rig the inter-bank lending rate.

In an economic update in which he painted a gloomy picture for the US economy, Bernanke (pictured) said central banks would need to join forces to restore LIBOR's credibility or its future will be in doubt....

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