Central bankers and regulators will likely hold a meeting to decide the future of the London interbank offered rate (LIBOR), which is a benchmark or reference rate for hundreds of trillions of dollars in loans.
The meeting will be held on September 9, reports said citing a letter sent by Bank of England Governor Mervyn King to the members of the Economic Consultative Committee, which he heads.
Bank of Canada Governor Mark Carney, who is also chairman of the Financial Stability Board, said FSB's Steering Committee will consider possible alternatives to LIBOR.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.