March 7, 2013 / 10:14 AM / 5 years ago

Key Euribor rates freeze ahead of ECB rate decision

FRANKFURT, March 7 (Reuters) - The main Euribor bank-to-bank
lending rate remained unchanged on Thursday ahead of the
European Central Bank's monthly policy meeting at which it is
expected to keep interest rates at a record low but possibly
hint at further support measures.
    Three-month Euribor rates, traditionally the
main gauge of unsecured bank-to-bank lending, were unchanged at
0.200 percent.
    The six-month rate stayed at 0.321 percent, while the
one-week rate dipped to 0.079 percent from 0.080
percent. The overnight Eonia rate rose to 0.070 percent
from 0.061 percent.
    Dollar-priced bank-to-bank Euribor lending rates
  were mixed, with three-month rates
rising to 0.49800 percent from 0.49700 percent and one-week
rates unchanged at 0.30500 percent.
    Excess liquidity in the euro zone banking
system slipped below the 400 billion euro mark to 389 billion,
which is still high enough to keep market rates below the ECB's
main refinancing rate, currently at a record-low level of 0.75
percent.
    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 
Graph'  
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 (Reporting by Frankfurt newsroom)

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