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What is Libor and why should we care?

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What is Libor and why should we care?

E
euronews (in English)

17 Views • Jul 02, 2012

Description

Libor - the London Interbank Offered Rate - is the average cost of borrowing at which Britain's banks lend each other money.

It is calculated daily, based on information supplied by those banks and is used worldwide as a benchmark for prices on trillions fo euros worth of derivatives and other financial products.

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http://www.euronews.net/