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4 years ago
Key Euribor rates unchanged as ECB mulls policy options
June 18, 2013 / 9:18 AM / 4 years ago

Key Euribor rates unchanged as ECB mulls policy options

FRANKFURT, June 18 (Reuters) - Euribor bank-to-bank lending
rates were unchanged on Tuesday as the European Central Bank
mulls its options on lending further support to the euro zone
economy if needed.
    The ECB left its main refinancing rate unchanged at 0.5
percent on June 6, and ECB President Mario Draghi said the
economic situation did not warrant another cut. But the
Governing Council also discussed a raft of options. 
    On Tuesday, Draghi reiterated in a speech in Israel that the
ECB stood ready to act if necessary, stressing that the
transmission of its monetary policy was improving and it had
regained better control of monetary conditions. 
    The three-month Euribor rate, traditionally
the main gauge of unsecured bank-to-bank lending, stayed
unchanged at 0.210 percent.
    The six-month rate inched up to 0.320 percent
from at 0.319 percent and the one-week rate inched
lower to 0.089 percent from 0.090 percent. The overnight Eonia
rate ticked up to 0.080 percent from 0.075 percent.
    Dollar-priced bank-to-bank Euribor lending rates
  were mixed, with three-month rates
falling to 0.45667 percent from 0.45889 percent and one-week
unchanged at 0.27222 percent.
    Excess liquidity in the euro zone banking
sector was at 306 billion euros, helping keep market rates below
the ECB's refinancing rate.
    Draghi said in February that he did not expect market rates
to face upward pressure until excess liquidity in the banking
sector fell below 200 billion euros.
    
    Euribor rates are fixed daily by the Banking Federation of 
the European Union (FBE) shortly after 0900 GMT.
    * For a table of the latest Euribor fixings for terms of one
week to one year, double click on 
    * For a table of the previous day's fixings of EONIA swap 
rates, which show market expectations for future overnight 
lending rates, double click on 
    * For graphs of historic Euribor and EONIA swap rates, right
click on the links in angle brackets below, and select 'Related 
Graph'  
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    3 month      
    4 month      
    5 month      
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    8 month      
    9 month      
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    11 month    
    1 year       

 (Reporting by Frankfurt newsroom; Editing by Catherine Evans)

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