London Inter Bank Offered Rate - The rate of interest at which banks lend money to each other - in a sense, the wholesale price of cash rather than the retail price (which is what individuals pay if they want to borrow money).The base rate which banks charge to their retail customers changes in response to changes made by the Bank of England to the Official Rate. LIBOR, on the other hand, changes continuously to reflect supply and demand within the cash and currency markets.
London Inter Bank Offered Rate : the rate of interest at which banks lend money to each other - in a sense, the wholesale price of cash rather than the retail price (which is what individuals pay if they want to borrow money).the base rate which banks charge to their retail customers changes in response to changes made by the bank of england to the official rate. libor, on the other hand, changes continuously to reflect supply and demand within the cash and currency markets.
London Inter Bank Offered Rate