Is this crunch time for the credit crunch? Yesterday, the three-month dollar Libor rate, at which big banks lend to each other, fell below 1 per cent for the first time. Libor is a vital benchmark for world finance but nobody much noticed it until banks started hoarding cash in the summer of 2007, prompting the crisis.
目前是此次信貸危機的危急時刻嗎?本月5日,3個月期美元倫敦銀行同業拆借利率(Libor,這是大型銀行互相拆借資金的利率)首次跌破1%。Libor是全球金融的關鍵基準,但沒有人充分意識到這一點,直到2007年夏季銀行開始囤積現金,進而引發了此次危機。
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