LONDON (Thomson Financial) - The cost of borrowing between banks in the UK moderated slightly today, having risen sharply on Friday following the Bank of England decision to keep interest rates on hold at 5.50 pct.
The overnight London Interbank Offered Rate (Libor) rate, which should in theory be the most closely aligned to the Bank rate, fell to 5.58 pct from 5.59 pct.
The one-week rate remained at 5.60 pct, while the three-month rate -- a key indication of banks' willingness to lend to each other over the medium term -- dropped to 5.67 pct from 5.68 pct.
