Record LIBOR low
Bank-to-bank dollar funding costs are reaching new lows, creating optimism that the two-year recession is slowing.
Borrowing rates have decreased to hit all-time lows after the effects of the highs set forth by recent market catastrophe. The bank-to-bank dollar funding costs are easing with the three-month rate setting a new record low, building up optimism the recession is over.
The three-month London interbank offered rate is fixed at 0.61438%, which is the new lifetime low. Also, three-month sterling Libor rates marked a historic low at 1.251% being complemented by diminishing euro rates. The new low rates set have helped reduce risk in the equation and given more confidence for those looking to the future.
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The rates quoted above are interbank rates. Client rates may vary according to the volume and timing of the trade.