Bankers say the rates at which banks lend to their peers are expected to remain high in Asia at least for the next couple of weeks, despite moves to facilitate the flow of credit.
Fears of an impending recession and capital being locked in Treasury bills T-bills are cited by the bankers as key reasons for the continuing freeze in the Asian credit markets.
Three-month Libor, the most important rate against which to benchmark loans, derivatives and other financial instruments, hardly moved after governments in the UK, France, Germany...
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