WSJ:Key Dollar Borrowing Rate Falls; Sterling, Euro Rates Steady
By Neelabh Chaturvedi
The cost of borrowing dollars for three months in the London interbank market fell Wednesday, while the corresponding sterling and euro rates were unchanged.
Data from the British Bankers' Association showed the three-month dollar London Interbank Offered Rate, known as Libor, fell to 0.31000% from 0.31175% Tuesday.
The spread between the three-month dollar Libor and overnight index swaps, a barometer of market stress, narrowed to 15.8 basis points from 16.1 basis points Tuesday.
The sterling rate was unchanged at 0.52688%, while the euro rate was flat at 0.13071%.
Write to Neelabh Chaturvedi at neelabh.chaturvedi@dowjones.com
