Libor is best defined as the ________.

Question

Quizplus · Accepted Answer

Libor (London Interbank Offered Rate) is the interest rate at which banks borrow and lend dollars to each other in the Eurodollar market. It is considered the benchmark interest rate for short-term loans and contracts worldwide. Option A is incorrect as Libor is not related to the National Bank of London. Option C is also incorrect as Libor is not the interest rate of the European Union. Option D is incorrect as Libor is not specifically related to commercial loans in the European Union.

Libor Is Best Defined as the ________