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London Interbank Offered Rate (LIBOR)

  • London Inter-bank Offered Rate
  • The word London might suggest isolation from the rest of the world but in fact the rate is set by over 15 countries every day by 11:45am.
  • Barclays contributed to distorting the rate for personal gain.
  • Some mortgages are now based on LIBOR rates as opposed to Bank of England Base Rates.
Published: 10 November 2013 Last Updated: 17 November 2021