WSJ:Key Dollar Borrowing Rate Falls; Euro Rate Rises, Sterling Steady
By Tommy Stubbington
The cost of borrowing dollars for three months in the London interbank market declined Wednesday, while the euro rate climbed and the sterling rate was unchanged.
Data from the British Bankers' Association showed the three-month dollar London Interbank Offered Rate, known as Libor, was 0.26320%, down from 0.26420% on Tuesday.
The spread between the three-month dollar Libor and overnight index swaps, a barometer of market stress, narrowed to 16.2 basis points from 16.4 basis points.
The sterling rate was unchanged at 0.51250% and the euro rate rose to 0.15143% from 0.15071%.
Write to Tommy Stubbington at tommy.stubbington@dowjones.com
