February 18, 2013 / 10:42 AM / 5 years ago

Euribor rates fall after G20 avoids yen criticism

FRANKFURT, Feb 18 (Reuters) - Euribor bank-to-bank lending
rates eased on Monday after the G20 nations refrained at a
weekend meeting from criticising Japan for its expansive
policies that have weakened the yen.
    Japan's Prime Minister Shinzo Abe also signalled on Monday
no change to the country's ultra-loose monetary policy. The yen
dipped near a 33-month low against the dollar and the euro was
up 0.2 percent.  
    A recent rise in the euro exchange rate has fuelled market
expectations that the ECB could react by cutting interest rates
further or deploying other forms of policy easing. 
    ECB President Mario Draghi, whose recent comments on the
currency have fanned such expectations, repeated on Friday that
the euro exchange rate was not a policy target, "but the
exchange rate is important for growth and price stability".
    On Monday, three-month Euribor rates,
traditionally the main gauge of unsecured bank-to-bank lending,
eased to 0.223 percent from 0.225 percent.
    The six-month rate fell to 0.359 percent from 0.363 percent
while the one-week rate inched lower to 0.080
percent from 0.081 percent. The overnight Eonia rate 
fell to 0.060 percent on Friday from 0.066 percent the previous
    Dollar-priced bank-to-bank Euribor lending rates
  were mixed, with three-month rates
rising to 0.48818 percent from 0.48727 percent and one-week
rates unchanged at 0.32091 percent.
    Euribor rates are fixed daily by the Banking Federation of 
the European Union (FBE) shortly after 0900 GMT.
    * For a table of the latest Euribor fixings for terms of one
week to one year, double click on 
    * For a table of the previous day's fixings of EONIA swap 
rates, which show market expectations for future overnight 
lending rates, double click on 
    * For graphs of historic Euribor and EONIA swap rates, right
click on the links in angle brackets below, and select 'Related 
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 (Reporting by Frankfurt newsroom; Editing by Toby Chopra)

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