UK Libor unmoved by recession news
The Bank of England (BoE)'s predictions of continued economic downturn failed to move the sterling interbank markets today.
Sterling overnight Libor dropped 0.07% from 3.11% yesterday to 3.04% today, while three-month sterling borrowing rates also fell 0.07% from 4.38% to 4.31%.
Overnight euro Libor fell significantly from 3.75% yesterday to 3.17% today, while dollar Libor rose to 0.38% from 0.35%.
In the three-month markets, dollar Libor fell today from 2.18% to 2.13%, while euro Libor fell from 4.32% to 4.27%.
As of 14:30 GMT, the Ted spread, which tracks the difference between three-month Libor and treasury bills
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