BLBG:Three-Month Dollar Libor Rises to 12-Month High at 0.319 Percent
The rate that London-based banks say they can borrow at for three months in dollars rose to the highest in a year after climbing for a 23rd straight day.
The London interbank offered rate, or Libor, for dollar loans increased to 0.31900 percent from 0.31428 percent yesterday, according to the British Bankers’ Association. That’s the highest since Aug. 20, 2010, and the longest stretch of gains since November 2005.
The dollar Libor-OIS spread, a gauge of banks’ reluctance to lend, widened to 23.50 basis points as of 12:20 p.m. in London, from 22.73 basis points yesterday. That’s the most since Aug. 6, 2010, according to data compiled by Bloomberg.
To contact the reporter on this story: Keith Jenkins in London at kjenkins3@bloomberg.net
To contact the editor responsible for this story: Daniel Tilles at dtilles@bloomberg.net
