WSJ:Key Dollar, Euro Borrowing Rates Fall; Sterling Rate Steady
By Tommy Stubbington
The cost of borrowing dollars or euros for three months in the London inter-bank market declined Wednesday, while the sterling rate was unchanged.
Data from the British Bankers' Association showed the three-month dollar London Interbank Offered Rate, known as Libor, was 0.29300%, down from 0.29550% Tuesday.
The spread between the three-month dollar Libor and overnight index swaps, a barometer of market stress, narrowed to 16.3 basis points from 16.7 basis points.
The sterling rate was flat at 0.51125%, while the euro rate eased to 0.15357% from 0.15429%.
Write to Tommy Stubbington at tommy.stubbington@dowjones.com
