Dollar Libor leads the way down after Fed rate cut

Libor rates fell across the board today, as stock markets in Europe and Asia continued to pick up and the US Federal Reserve announced a 50 basis point rate cut.

The Fed cut its target federal funds rate to 1% yesterday, citing slowing consumer spending, lower business spending and industrial production, a poor outlook for US exports and gloomy prospects for the credit markets. Declining energy and commodity prices meant that inflation was set to fall, it added.

In the overnight markets, US dollar Libor dropped significantly from 1.14% yesterday to 0.73% today, a 41bp fall. Sterling and euro Libor both fell, from 4.8% to 4.74% and 3.54% to 3.53%

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here