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Interbank edges up.

THE interbank cost of borrowing three-month euro funds edged higher yesterday, according to the British Bankers' Association.

It was the fourth consecutive session the rate had risen.

Dollar and sterling Libor rates were not fixed due to the UK Bank Holiday. US financial markets were also shut for a holiday.

The spread of threemonth London interbank offered rates over OIS rates for euros was steady, compared with Friday's level, at 50 basis points.

The spread is seen as a gauge of banks' willingness to lend to each other - a wider spread is seen as an indication of decreased inclination to lend..
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Publication:Daily Post (Liverpool, England)
Date:May 26, 2009
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