Key Euribor rates dip

Key euro-priced bank-to-bank lending rates dipped on Friday, as market liquidity edged up and amid confusion about who would become the next head of the ECB, after it was revealed Axel Weber had withdrawn from the race. The three-month Euribor rate - traditionally the main gauge of unsecured interbank euro lending and a mix of interest rate expectations and banks' appetite for lending - fell to 1.093 from 1.094 percent previously.
Shorter-term one-week rates also fell, dropping to 0.942 percent from 0.971 percent.