November 14, 2016 / 1:22 PM / 9 months ago

U.S. LIBOR breaches 1 pct for first time since 2009

Jan 4 (Reuters) - The rate banks charge each other to borrow dollars for three months rose above 1 percent on Wednesday for the first time since May 2009 as global interest rates extend their climb on expectations of accelerating global growth and inflation.

The London interbank offered rate, or LIBOR, for three-month dollars was fixed at 1.00511 percent, the highest since 1.00688 percent on May 1, 2009, which was also the last date the rate had topped 1 percent.

This compared with Tuesday’s rate of 0.99872 percent.

Reporting By Dan Burns

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