FRANKFURT, April 4 (Reuters) - Euribor bank-to-bank lending
rates were unchanged on Thursday ahead of a European Central
Bank policy meeting at which the bank is expected to keep
interest rates at a record low of 0.75 percent.
Investors will listen closely to ECB President Mario
Draghi's news conference for any signals that the bank could be
ready to ease policy in the months ahead.
Earlier, the Bank of Japan surprised markets with a radical
overhaul of its policymaking, adopting a new balance sheet
target and pledging to double its government bond holdings in
On Thursday, the three-month Euribor rate,
traditionally the main gauge of unsecured bank-to-bank lending,
remained unchanged at 0.210 percent.
The six-month rate eased to 0.330 percent from 0.331
percent, and the one-week rate stayed at 0.083
percent. The overnight Eonia rate rose to 0.072 percent
from 0.070 percent.
Dollar-priced bank-to-bank Euribor lending rates were lower, with three-month rates
falling to 0.50200 percent from 0.50300 percent and one-week
rates down at 0.32200 percent from 0.32300 percent.
Excess liquidity in the euro zone banking
system is at 372 billion euros, still high enough to keep market
rates below the ECB's refinancing rate.
ECB President Mario Draghi said in February he does not
expect market rates to face upward pressure until excess
liquidity in the banking sector falls 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
($1 = 0.7824 euros)
(Reporting by Frankfurt newsroom)
Keywords: MARKETS EURIBOR/
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