Nomura economist Tony Volpon expects a 50 basis point increase to 12.25% for the benchmark interest rate.
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It will look at the how the Libor rate, which is the benchmark interest rate for millions of financial transactions, is calculated and regulated.
As expected, the Tuesday meeting delivered another 25 basis-point increase in the benchmark interest rate, to 4.25%, but the language of the accompanying statement contained both hawkish and dovish signals.
Ms Rousseff recently declared that by 2014 she wants to see the benchmark interest rate fall to 2% in real terms (it is currently 10.75%, or 5.3% stripping out inflation).
It has not just lowered but halved the benchmark interest rate from its October peak of 43%, and on April 30th the central bank began to widen the real's trading band, in a manner which officials say could lead to slightly slower devaluation than the current 7% a year.
Market expectations are for the Selic benchmark interest rate to hit 7.50 percent before the end of the year.
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Tim Lord cited alleged communications from the "31st floor" of Barclays HQ - which housed senior executives - about the benchmark market interest rate.
South Korea's Kospi index jumped 1.2 percent to 1, 972.70 after the Bank of Korea lowered its benchmark interest rate for the first time in seven months.
The government was swift to take advantage: hours after the sale, the Central Bank cut its benchmark interest rate to 19.75%, below the pre-October level, though still far above inflation, now slowing toward an annual rate of some 2%.
In Asia, the Bank of Korea met expectations by cutting its benchmark interest rate for the second time this year.
This week the BoJ kept its benchmark interest rate on hold, at just 0.5%.
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Last month the Central Bank raised its benchmark Selic interest rate by 0.75%, the first rise in nearly two years.
It also kept the band for its benchmark interest rate at zero-0.25%.
The resulting rate is used in basically two ways: as an expression of global credit risk (rates go up when the financial system is perceived to be in danger, like in the fall of 2008) and as a benchmark interest rate for millions of contracts around the world.
On Friday, the ECB announced that it was reducing its benchmark interest rate to a record low 0.75 percent, down from 1 percent, while the PBOC lowered interest rates on one-year loans from 6.31 percent to 6 percent, and said that banks can discount rates by as much as 30 percent below that benchmark, an increase from the previously allowed 20 percent.
Earlier Tuesday, the Bank of Japan cut its benchmark interest rate to nearly zero and said it would buy government bonds in a bid to weaken the yen and boost the Japanese economy.
That made the central bank's benchmark interest rate of 15.75% in April no bargain, but no excuse for three-figure overdraft rates either.
India's central bank cut its benchmark interest rate for the first time in three years, by half a percentage point to 8%.
The central bank has kept its benchmark interest rate at 1% for two years, encouraging Canadians to pile up debt, particularly in mortgages.
Few were surprised on Thursday July 3rd when the European Central Bank raised its benchmark interest rate by a quarter of a percentage point, to 4.25%.
The outlook for global growth also got a boost after the European Central bank cuts its benchmark interest rate a quarter of a percentage point to 0.5 percent.
On October 8th the Bank of Canada cut its benchmark interest rate by 50 basis points (to 2.5%) in a co-ordinated move with the other main central banks around the world.
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The minutes of the latest meeting of the bank's monetary-policy committee suggest that it will raise its benchmark interest rate in March or April, for the first time since September 2008.
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In June, the PBOC announced that banks will be allowed to offer loans at interest rates up to 20 percent below the benchmark rate and be free to pay savers a rate up to 10 percent above the ceiling rate.
Earlier Tuesday, the Reserve Bank of Australia cut its benchmark interest rate to a record low 2.75%, from 3%.
How can we have a benchmark interest rate based upon the prices at which banks lend to each other if banks periodically simply stop lending to each other?
In South Korea the Kospi fell 2.2% to 1785.39, its lowest close since early June, after the Bank of Korea unexpectedly cut its benchmark interest rate by a quarter of a percentage point to 3%.
Weak consumer spending is a concern for the European Central Bank, which lowered its benchmark interest rate to a record low of 0.5% last week.
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Typically, one series of cash flows would be considered the fixed leg of the agreement while the other would be less predictable, such as cash flows based on an interest rate benchmark or a foreign exchange rate, usually referred to as the floating leg.
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