On 30 June 2023, the publication of data on the USD LIBOR, the interest rate at which banks lent US dollars to each other, was ceased. This was not a sudden end, as the relevant authorities had been warning since 2017 of the need to abandon the LIBOR in favour of another benchmark, the SOFR. In this article we explain what these acronyms refer to and which are the differences between them.
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For much of April, the tone in the financial markets was marked by geopolitical risks and investors’ bets about the near future of monetary policy in the major developed economies.
Cautiously optimistic outlook for the international economy, but with a demanding risk map. The US stands out among advanced economies, while the euro area has not yet left behind its sluggish economic activity. Among emerging markets, India’s growth tops the BRICS, with China giving way to the new leader.