NEW YORK: A global benchmark for banks to borrow dollars for three months on Thursday rose to its highest level since late 2008, a day after the Federal Reserve as expected lifted key short-term borrowing costs by a quarter point.
The London interbank offering rate (LIBOR) for three-month dollars, a reference rate for $200 trillion worth of dollar-denominated financial products, was set at 2.27108 percent, the highest since November 2008. On Wednesday, it stood at 2.24614 percent.
Source: Brecorder.com
