WSJ: Key Dollar Borrowing Rate Steady; Euro, Sterling Rates Fall
By Tommy Stubbington
The cost of borrowing dollars for three months in the London inter-bank market was unchanged Friday, while the euro and sterling rates declined.
Data from the British Bankers' Association showed the three-month dollar London Interbank Offered Rate, known as Libor, was 0.29010%, the same level as Thursday.
The spread between the three-month dollar Libor and overnight index swaps, a barometer of market stress, narrowed to 14.9 basis points from 15.1 basis points.
The sterling fell to 0.51000% from 0.51125%, while the euro rate eased to 0.14214% from 0.14500%.
Write to Tommy Stubbington at tommy.stubbington@dowjones.com
