Thursday, December 13, 2007
It’s a stubborn Lending Logjam !
"The interest rates banks charge each other for short-term loans remained close to the highest in seven years a day after central banks joined forces to end a lending logjam threatening the global economy. The cost to borrow for three months remained at 4.95 percent, the British Bankers' Association said today. That's 95 basis points, or 0.95 percentage point, more than the European Central Bank's benchmark interest rate, compared with 57 basis points a month ago".