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Bonds News

Three-month yen Libor turns negative for first time

LONDON, Feb 19 (Reuters) - The three-month yen LIBOR (London interbank offered rate), used often as benchmark for bond coupons and bank lending, fell into negative territory for the first time on Friday.

The Bank of Japan started implementing negative interest rates on Feb 16, a policy that seems to have caused more damage than benefits initially.

The Libor rate fell to minus 0.00443 percent from 0.00129 percent the previous day. (Reporting by Hideyuki Sano and John Geddie; Editing by Marius Zaharia)

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