WSJ:Key Dollar Borrowing Rate Falls; Euro, Sterling Rates Steady
By Nick Cawley
The cost of borrowing dollars for three months in the London interbank market edged lower Thursday, while the sterling and euro rate were unchanged.
Data from the British Bankers' Association showed the three-month dollar London Interbank Offered Rate, known as Libor, fell marginally to 0.27465%, from 0.27575% Wednesday.
The spread between the three-month dollar Libor and overnight index swaps, a barometer of market stress, remained unchanged at 16.5 basis points.
The sterling rate was steady at 0.50563%, while the euro rate remained unmoved at 0.11571%
