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English definition of “Libor”

Libor

noun (also LIBOR)     /ˈlaɪbɔːr/ BANKING, FINANCE
abbreviation for London Inter-Bank Offered Rate : the interest rate at which UK banks lend to each other. Libor is also used to set other interest rates : These bonds pay an interest rate that is half a percentage point over Libor.
(Definition of Libor noun from the Cambridge Business English Dictionary © Cambridge University Press)
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