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The BOE is poised to take over a key UK rates benchmark

The bank says reform of Sonia vital, given its role as a critical benchmark in sterling markets

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The BOE says it plans to issue a consultation in the middle of the year on its plans to broaden the range of transactions that underpin Sonia.

London

THE Bank of England said on Wednesday that it will take control this month of an interbank lending rate that is an important gauge of what investors are predicting about the central bank's next moves on monetary policy. The Sterling Overnight Index Average (Sonia) has also been

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