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    What is Libor and why should we care?

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    euronews (in English)

    by euronews (in English)

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    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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