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Jamaul

London Interbank Offered a Rate .....i need a defenition of what this does and do to the economy

Sequoia:

From Wikipedia, the free encyclopedia
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The London Interbank Offered Rate (or LIBOR, pronounced /ˈlaɪbɔr/) is a daily reference rate based on the interest rates at which banks offer to lend unsecured funds to other banks in the London wholesale money market (or interbank market). LIBOR will be slightly higher than the London Interbank Bid Rate (LIBID), the rate at which banks are prepared to accept deposits.

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