loan rates: LIBOR - The other shoe could be about to fall
- 09/17/08 08:16 AM
The other shoe could be about to fall... the LIBOR rate has spiked in recent weeks. What is the LIBOR and why is something to be concerned about? From a report on Bloomberg this week.."The overnight Libor rate in U.S. dollars soared 3.33 percentage points to 6.44 percent today, its biggest jump in at least seven years, according to the British Bankers' Association. The one-week rate rose by more than a percentage point, to 3.88 percent from 2.49 percent on Monday, and the one-month rate increased to 2.75 percent from 2.5 percent."LIBOR is short for London Bank Inter Offered Rate. It … (2 comments)
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The other shoe could be about to fall... the LIBOR rate has spiked in recent weeks. What is the LIBOR and why is something to be concerned about?
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