Global central bankers will discuss the possibility of reformingLibor or scrapping it altogether at a September conference,Reuters reports. Mark Carney, governor of the Bank of Canada, saidthat it was vital that markets have “absolute confidence” in therate, adding that if Libor can't be fixed, alternatives will needto be discussed. Carney floated the idea of using market-basedrates, citing repo rates and Overnight Index Swap (OIS) rates, andsuggested that different rates may be used in differentcurrencies.
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