Meaning of “interbank offered rate” in the English Dictionary

business-english dictionary

"interbank offered rate" in Business English

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interbank offered ratenoun [ C, usually singular ]

uk us abbreviation IBOR, also interbank rate, overnight rate BANKING, FINANCE

the interest rate at which banks borrow money from other banks for a short period of time

(Definition of “interbank offered rate” from the Cambridge Business English Dictionary © Cambridge University Press)