Wednesday April 16, 12:19 PM
UK three-month interbank lending rate edges down marginally
LONDON (Thomson Financial) - The rates at which banks lend to each other in the United Kingdom eased slightly on Wednesday.
The key three-month Libor rate edged down marginally to 5.92 percent from 5.93 percent, while the one-month
rate fell to 5.52 percent from 5.53 percent.
The overnight contract, generally the most closely aligned to the BoE's 5.00 percent benchmark rate, dropped to 5.086 from 5.095 percent on Tuesday.
Despite the small falls, interbank lending rates remain high, even after the Bank of England cut interest rates by a quarter point on Thursday.
UK Prime Minister Gordon Brown on Tuesday morning (NASDAQ: TUES - news) met representatives of Britain's leading financial institutions to discuss ways of supporting the money markets to ease the credit crunch.
|
Send Article by Email
