US LIBOR posts biggest weekly rise

A key measure of inter-bank borrowing costs rose on Friday, resulting in its biggest weekly increase since March, as traders expect further interest rate hikes from the Federal Reserve due to solid US economic growth. The London interbank offered rate for banks to borrow three-month dollars from each other climbed 0.8 basis points to 2.47719 percent, the highest level since October 2008.
This followed a 2 basis point rise on Thursday, which was the biggest one-day increase since late May. On the week, three-month dollar LIBOR climbed nearly 4.1 basis points, marking the biggest weekly jump in about seven months.