Today's LIBOR Rates
1 M |
0.31563 |
 |
3 M |
0.47500 |
|
6 M |
0.68794 |
|
1 YR |
1.06438 |
|
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Yen LIBOR Declines |
December 2, 2009
Reuters reports that Yen LIBOR has dropped following a move by the Bank of Japan to increase liquidity. LIBOR stands for London Interbank Offered Rate and is a filtered average of rates that banks charge each other for unsecured, short-term loans.
Three-month Yen LIBOR dropped from 0.29875% to 0.29375%. The decline followed an emergency meeting at the Bank of Japan which produced a decision to offer three month funds at 0.1%. This program will infuse cash into the Japanese financial system amid deflation and recession fears. As LIBORATED.com has noted, financial institutions enjoy such interventionist policies by their countries’ central banks and mark their approval in lower lending rates reflected by lower LIBOR rates.