Europeans worry about interest rate manipulation

[pmbug]

Isn't that the whole raison d'etat for central banks?

The European Commission seized documents from several major banks Tuesday, marking the escalation of a world-wide law-enforcement probe into how key interest rates are set, according to people familiar with the matter.

European officials are scrutinizing an interest rate called the Euro Interbank Offered Rate, or Euribor, people familiar with the situation said. Euribor, set by more than 40 banks, is a benchmark used to determine interest rates on trillions of euros worth of euro-denominated loans and debt instruments.
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http://online.wsj.com/article/SB10001424052970203658804576639484062369102.html

 

[hazek]

Isn't that the whole raison d'etat for central banks?

Sure, but they have to pretend as if it's not to not piss off the masses..