WSJ:Key Dollar Borrowing Rate Falls; Sterling, Euro Rates Climb
By Tommy Stubbington
The cost of borrowing dollars for three months in the London interbank market declined Thursday, while the sterling and euro rates rose.
Data from the British Bankers' Association showed the three-month dollar London Interbank Offered Rate, known as Libor, was 0.26810%, down from 0.26910% Wednesday.
The spread between the three-month dollar Libor and overnight index swaps, a barometer of market stress, narrowed to 15.4 basis points from 15.7 basis points.
The euro rate increased to 0.14214% from 0.14071%, while the sterling rate rose to 0.50875% from 0.50813%.
