Joint effort failing to counter interbank tension

Interbank rates stayed high and markets plummeted on Thursday in spite of the collective action launched by five of the most powerful central banks on Wednesday.

Interbank rates for three-month dollar loans held at 5%, 75 basis points about the federal funds rate. Euro-denominated lending also failed to respond, with the three-month interbank rate staying put at 4.95%, 95 basis points higher than the European Central Bank's benchmark rate. Overnight and 12-month interbank rates for dollar lo

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: