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Article: Dollar 3-month interbank lending rate unchanged
- Article from:
- AP Worldstream
- Article date:
- June 9, 2009
- Author:
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The cost of three-month dollar loans between banks held steady Tuesday despite growing expectations that the worst of the U.S. recession is over and that the U.S Federal Reserve may start to lift borrowing costs sooner rather than later.
The British Bankers' Association said the rate on three-month loans in dollars _ known as the London Interbank Offered Rate, or Libor _ was unchanged at 0.65 percent, having risen 0.02 percentage points from all-time lows on Monday.
Though the U.S. Federal Reserve is expected to keep its benchmark rate unchanged at a range between zero and 0.25 percent for a few months yet, the markets are beginning to price in the possibility that rates ...