WSJ:Key Dollar Borrowing Rate Steady; Euro Rate Up, Sterling Falls
By Tommy Stubbington
The cost of borrowing dollars for three months in the London inter-bank market was unchanged Wednesday, while the euro rate rose and the sterling rate declined.
Data from the British Bankers' Association showed the three-month dollar London Interbank Offered Rate, known as Libor, was 0.28910%, the same level as Tuesday.
The spread between the three-month dollar Libor and overnight index swaps, a barometer of market stress, narrowed to 14.5 basis points from 14.6 basis points.
The sterling rate slipped to 0.50875% from 0.51000%, while the euro rate increased to 0.14143% from 0.14000%.
Write to Tommy Stubbington at tommy.stubbington@dowjones.com
