interest rates
Definition
The proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage of the loan outstanding.
The cost of borrowing money or the reward for saving it, dictated by central banks to manage economic inflation and liquidity.
Examples
Watching the central bank hike interest rates is like watching an expensive magician pull the rug out from under your mortgage payment.
If banks had been as honest with their interest rate submissions as they were creative with their accounting during the LIBOR scandal, we might still have some faith left in the system.
My savings account interest rate is currently so low that it takes more energy to calculate the gain than the bank pays me to keep the money there.
Some bankers treated the LIBOR interest rate settings like a neighborhood poker game where everyone was cheating, except the regulators were the ones who finally stopped the session.