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Libor

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noun [uncountable] economics British English pronunciation: Libor /ˈlaɪˌbɔːr/

or LIBOR

  1. London Interbank Offered Rate: an interest rate at which banks can borrow from one another. It is set daily based on an average of the rates set by major banks around the world

    A dual-track system could replace the troubled Libor benchmark rate as early as next year.

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