March 22, 2018 / 11:44 AM / a month ago

MONEY MARKETS-Dollar LIBOR rises to highest level since 2008

NEW YORK, March 22 (Reuters) - A global benchmark for banks to borrow dollars for three months on Thursday rose to its highest level since late 2008, a day after the Federal Reserve as expected lifted key short-term borrowing costs by a quarter point.

The London interbank offering rate (LIBOR) for three-month dollars, a reference rate for $200 trillion worth of dollar-denominated financial products, was set at 2.27108 percent, the highest since November 2008. On Wednesday, it stood at 2.24614 percent. (Reporting by Richard Leong)

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