Headline interest rates are set by central banks. But the ones that we actually pay, as consumers or companies, are set by the banks themselves. And most of these are based on LIBOR - the London Inter-Bank Offer Rate - which is the main benchmark for
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Read the complete post at http://www.icis.com/blogs/chemicals-and-the-economy/2008/05/interest-rates-to-rise-by-the.html