Euribor at lowest level for eight months

Against the trend of bad news in the financial markets, the Euribor fell again to 4.381% (22.01.08). This is well below the rate at the end of 2007 where the rate had spiked to 4.79%.

The Euribor hasn't been under 4.4% since May of 2007 when it was 4.392%. Many analysts feel that the Euribor is affected by the current credit crisis and this may well lead to the European Central Bank (ECB) reducing interest rates from its current 4% mark. Rate cuts from the Federal Reserve in the USA and cash injections by the ECB have gone someway to alleviate the current situation.


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