June 11, 2020 / 9:16 AM / a month ago

Bank of England plans daily compounded Sonia index from August

FILE PHOTO: A general view of The Bank of England and the Royal Exchange as the spread of the coronavirus disease (COVID-19) continues, in London, Britain, March 19, 2020. REUTERS/Hannah McKay/File Photo

LONDON (Reuters) - The Bank of England said it will publish a daily compounded index for its overnight Sonia interest rate from early August, a bit later than it previously planned, as it pushes ahead with ditching the discredited Libor benchmark.

The BoE had previously intended to publish a compounded Sonia index from July.

Writing by William Schomberg; Editing by Catherine Evans

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