Euribor inter-bank lending rates rise to new high: 3-month rate at 5.05%; US dollar Libor rates fall towards Fed’s 2% benchmark
Sep 19th, 2008 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Euribor inter-bank lending rates rose to a new high Friday, despite central banks provision of emergency liquidity to unfreeze credit markets following the financial turmoil in the US this week. The key Euribor 3-month rate, which is a benchmark for short-term commercial lending in Europe, rose to 5.005%. However, the US dollar Libor inter-bank rates fell towards the Fed's 2% benchmark rate.