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A rate charged or paid for the use of money. This rate is expressed as percentage of the total amount or principal borrowed or loaned. Interest rates often change as a result of inflation, economic or other events, or as the result of government policy. Interest rates are very important barometers of the political and financial position of a country, as well as its economic health, and are the indicator of the cost of capital in that country to both companies and individuals.
One interest rate used only between banks internationally is the London Inter-bank Offering Rate (LIBOR). This rate is generally taken to indicate the wholesale rate for capital and is the most used short-term interest …