J.P. Morgan pares year-end forecast on three-month LIBOR

© Reuters. FILE PHOTO: A J.P. Morgan logo is seen in New York City

NEW YORK (Reuters) – J.P. Morgan analysts said on Friday what banks charge each other to borrow dollars for three months will likely end 2019 at about 2.65 percent, which was below their prior forecast of 2.90 percent, due to expectations the Federal Reserve would not raise rates this year.

Earlier Friday, the London interbank offered rate (LIBOR) for three-month dollars was fixed at 2.62525 percent, the highest level since Feb. 27.

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