December 17, 2015 / 11:55 AM / 2 years ago

Three-month dollar Libor rate rises after Fed rate rise

LONDON, Dec 17 (Reuters) - The three-month dollar Libor rate settled higher on Thursday, a day after the U.S. Federal Reserve delivered its first interest rate rise in almost a decade.

The U.S. dollar Libor rate, which shows the interbank cost of borrowing funds in U.S. dollars, was at 0.56950 percent compared with 0.53250 percent on Wednesday.

The U.S. central bank’s policy-setting committee raised the range of its benchmark interest rate by a quarter of a percentage point to between 0.25 percent and 0.50 percent, ending a lengthy debate about whether the economy was strong enough to withstand higher borrowing costs. [ID: nL1N1441IT] (Reporting by Dhara Ranasinghe; Editing by Nigel Stephenson)

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