Monday May 12, 12:21 PM
UK 3-month interbank lending rate inches down; overnight rate up slightly
LONDON (Thomson Financial) - The key rate at which banks lend to each other on a three-month basis edged down again on Monday, though the overnight rate was marginally higher.
The three-month Libor rate dipped to 5.76 percent from
5.77 percent on Friday.
The one-month rate was stable at 5.43 percent, while the overnight contract, generally the most closely aligned to the Bank of England's (BoE) 5.00 percent benchmark rate, edged up to 5.09 percent from 5.08 percent on Friday.
Last week, the BoE kept its key Bank Rate on hold at 5.00 percent, but most in the market expect that the central bank will cut rates by a quarter point to 4.75 percent next month.
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