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Short-term interest rates continue bumpy journey
Filed under: International markets, Forecasts, Financial Crisis
short-term interest rates continued to reflect bank-to-bank and financial institution uncertainty early monday, amid local currency declines in emerging markets, as institutional investors bought dollars and the yen in an ongoing flight-to-protection model.the london interbank overnight rate, or libor, hew down just 1 basis point to 1.28%. in addition, the london rate for three-month loans in dollars also fell just 2 basis point to 3.51%. the rate for the euro, or euribor, floor about 1 basis thrust to 4.91%. however, curious about rates in asia rose, with the hong kong interbank offer rate, or hibor, rising 45 basis points to 3.74%testy-term rates, including overnight rates, are key sources of cash for corporations and other large institutions, which utter the cash to pay suppliers, kind payroll, roll in excess of debt etc. hence, very high overnight and short-style rates choice discourage corporations from conducting matter, restricting commerce and slowing the economy, economists say.
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