Euribor three-month hits new low

Euribor bank-to-bank lending rates continued their downward march on Friday, after the European Central Bank left rates on hold at a record low 1 percent and signalled no plans to change them any time soon. The three-month rate, traditionally the main gauge of interbank euro lending and a mix of interest rate expectations and banks' appetite for unsecured lending, fell to 0.680 percent from Thursday's all-time low of 0.682 percent.
One-year Euribor rate fell to 1.228 percent from 1.235 percent, while six-month rates dipped to 0.977 percent from 0.981 percent. The shorter-term one-week rate bucked the trend, rising slightly to 0.357 percent from 0.356 percent. Last month the ECB announced plans to start unwinding the generous liquidity it has used to fight the financial crisis, and has brought market rates to historic lows.