Credit Easing?

I suppose the lowering of LIBOR is an indication to some that credit is easing, at least on Fleet Street!  Most of the “main street” businesses probably don’t feel that yet.  Not sure if that is a measure of credit that will filter down anytime soon.  LIBOR is the London Inter Bank Offered Rate, a rate measuring the interest charged between banks.  Until recently, many US banks used that as an alternative for Prime.  Recently, LIBOR went through the roof, an indication that credit was tight.