A long time ago some big banks decided that it would be good to sell interest-rate derivatives. To do that they needed an interest rate on which to sell derivatives. Various possibilities presented themselves -- Treasury rates or whatever -- but the interest rates that the banks themselves paid on...
The stock market could use a healthy correction soon, before prices start rising at an unsustainable pace.
Canada’s dollar fell to the lowest level in three years as central-bank Governor Stephen Poloz warned of the risks of low inflation, spurring speculation interest-rate cuts may be considered.
Societe Generale SA, France’s second-biggest bank, placed sole blame on an ex-trader it didn’t identify for interest-rate rigging that cost it 446 million euros ($607 million) in European antitrust fines.