Thursday, April 17, 2008
Is LIBOR accurate? – An interesting and significant question. GB will do everything humanly possible to influence their findings and not let LIBOR increase.
The British Bankers' Association has brought forward a review into how it sets the pivotal London Interbank Offered Rate amid mounting concerns over the credibility of the measurement. The association yesterday revealed it was re-assessing how it calculates Libor - a benchmark measurement that filters through the economy, affecting mortgage and other interest rates across the lending system.