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Credit Crunch for Dummies: The LIBOR Rate

Posted by DaveRowtree 1230 days ago, popular 1230 days ago (http://www.mortgagesforbusiness.co.uk)
Category: Economy | Tags: bank credit crunch libor mortgages
The LIBOR rate was a key player in the credit crunch - it represents the rate banks lend to each other and some would argue is the rate that counts. Here is a guide to what LIBOR is and how it is calculated, as well as diagram of how it all went so wrong during the credit crunch, comparing the LIBOR with the Bank of England base rate.
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