In order to gauge the progress being made to unclog credit markets and restore confidence in the world’s financial system I monitor a range of financial spreads and other measures. By perusing these as summarized in this Credit Crisis Watch review one can ascertain to what extent the various central bank liquidity facilities and capital injections are having the desired effect. First up is the LIBOR rate. This is the interest rate that banks charge each other for 1-month 3-month 6-month and 1-year loans. LIBOR is an acronym for “London InterBank Offered Rate” and is the rate charged by ...