Interbank interest rates in various cities around the world are often the basis for interest rates in contractual loan agreements.What is the most important of these rates?

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The London Interbank Offered Rate (LIBOR) has historically been the most important global benchmark for short-term interest rates. It serves as a reference rate for a vast amount of financial products worldwide, including mortgages, loans, and derivatives. Despite its planned phase-out and replacement due to regulatory concerns, LIBOR's influence and widespread use have made it the most significant interbank interest rate.

Interbank Interest Rates in Various Cities Around the World Are