J.P. Morgan pares year-end forecast on three-month LIBOR
Written by Maga First News on March 15, 2019
FILE PHOTO: A J.P. Morgan logo is seen in New York City, U.S. January 10, 2017. REUTERS/Stephanie Keith
March 15, 2019
NEW YORK (Reuters) – J.P. Morgan analysts said on Friday what banks charge each other to borrow dollars for three months will likely end 2019 at about 2.65 percent, which was below their prior forecast of 2.90 percent, due to expectations the Federal Reserve would not raise rates this year.
Earlier Friday, the London interbank offered rate (LIBOR) for three-month dollars was fixed at 2.62525 percent, the highest level since Feb. 27.
(Reporting by Richard Leong; Editing by Chizu Nomiyama)