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AnswerIts less likely that LIBOR rate will go down in near future. increase in retail sales to .6% from expected .3% as well as inflation indications makes a change in LIBOR rates less likely

LIBOR, the London Interbank Offered Rate is a basis against which reference banks quote a cost of funds from overnight to one year in 10 currencies.

http://en.wikipedia.org/wiki/London_Interbank_Offered_Rate

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Q: Will LIBOR rates go up or down in the next 6 months?
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The libor rate is an interest rate that is established by the leading banks in London, which is one of the major financial capitals of the world, along with Tokyo and New York City. To figure out this average rate, the banks assume that they are borrowing from other banks, and they report what the rate would be for them. They have different rates for different time periods since a one-week loan would not carry the same rates a a one-year loan. They also set it up for many different world currencies, not just the pound. You may think that this does not impact you if you do not live in London or deal with British banks, but the truth is that it can influence other interest rates all around the world. Your credit card may be based off of it. Your bank loan may be based off of it. This is one of the most important bits of financial information in the world, and the rate is announced before noon each day so that the rest of the world can adjust itself accordingly. You should note that your rate will not be the same as the libor rate just because it is based off of it. Everything is relative. If your credit card was charging you three times the libor rate, the card could be adjusted if it moves up or down. This generally only happens over large periods of time. The rate may fluctuate slightly without influencing everything. If there is a significant raise or drop, though, you can be sure that other rates will then move in the following days, weeks, or months. To save money, try to get locked into a loan while the libor rate is very favorable. Some companies will tell you that the rate is never going to change during the life of the loan, and they are obligated to stand by this decision. Even if the libor rate jumps up the next day, they cannot break their word. You can then go on saving for years to come. You just need to track the rates to see when they are favorable.


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