Bank of England Shelves LIBOR for UK Foreign Exchange Reserves Hedge

Posted on 06/29/2019

The London Inter-bank Offered Rate (LIBOR) is an interest-rate average calculated from estimates submitted by London’s prominent banks. Each bank estimates what it would be charged were it to borrow from other banks. However, LIBOR has been hit with scandals over the years, prompting action for change. The Bank of England formed a group which […]