BBA LIBOR: Further easing of rates – the first ray of hope for the credit markets?

Sterling BBA LIBOR has dropped today across all maturities. The Overnight rate has dropped to 5.87375 from a peak of 6.2475 per cent on 3rd September. The key three-month Sterling BBA LIBOR rate has dropped again, from 6.90250 to 6.88000.

This turnaround in the sterling market is following behind the US Dollar and Euro markets, which have been dropping since hitting peaks last week.

British Bankers Association Chief Executive Angela Knight CBE said: “We hope this is the first indication that the credit markets are finally beginning to ease”.

Sterling BBA LIBOR rates for Thursday 13th September:

Overnight: 5.87375
Three-month: 6.88000
Twelve-month: 6.59500