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English definition of “floating rate”

floating rate

noun [C]     (also adjustable rate, also variable rate)
FINANCE an interest rate that can change over a period of time : Some investors prefer floating rate bonds over the fixed rates , as interest rates are not predicted to change in the near future . a floating rate loan / mortgage / liability
ECONOMICS →  floating exchange rate
(Definition of floating rate noun from the Cambridge Business English Dictionary © Cambridge University Press)
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