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