November 2, 2018 / 12:08 PM / 19 days ago

MONEY MARKETS-LIBOR posts biggest weekly jump since March

NEW YORK, Nov 2 (Reuters) - A key gauge on what banks charge each other to borrow three-month dollars registered its largest weekly increase since March on Friday, as rising U.S. government borrowing and a shrinking Federal Reserve balance sheet have raised private interest rates.

The London interbank offered rate to borrow three-month dollars climbed nearly 1.1 basis points to 2.59238 percent on Friday. This brought its weekly gain to 7.2 basis points, which was its largest weekly jump since the week of March 23 when it rose almost 9 basis points. (Reporting by Richard Leong Editing by Chizu Nomiyama)

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