BLBG:Three-Month Dollar Libor Rises for 25th Day to 0.326 Percent
The rate at which London-based banks say they can borrow for three months in dollars rose to the highest in a year after climbing for a 25th straight day.
The London interbank offered rate, or Libor, for dollar loans climbed to 0.32556 percent from 0.32278 percent at the end of last week, according to the British Bankers’ Association. That’s the highest since Aug. 20, 2010, and the longest stretch of gains since November 2005. There were no Libor fixings yesterday due to a U.K. public holiday.
The dollar Libor-OIS spread, a gauge of banks’ reluctance to lend, was at 24.06 basis points as of 11:54 a.m. in London. It reached 24.38 basis points on Aug. 26, 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
