March 1, 2017 / 12:24 PM / 7 months ago

MONEY MARKETS-U.S. Libor surges by most in nearly 15 months

March 1 (Reuters) - The cost for banks to borrow funds in U.S. dollars surged by the most since December 2015 on Wednesday, a day after a series of Federal Reserve officials jolted short-term interest rate markets with talk of a near-term rate rise.

U.S. 3-month Libor was set near an eight-year high early Wednesday at 1.09278 percent vs 1.064 percent on Tuesday, with the 2.878 basis point rise being the largest since Dec 17, 2015, the day after the Fed’s first rate hike following the financial crisis and Great Recession. (Reporting By Dan Burns)

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