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When do bank interest rates change?

April 26, 2017Bank Economic Finance interest rates policy rates setting

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When do bank interest rates change?

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There is no set time when bank interest rates change. It is a function of several factors, such as the overnight federal lending rate and the state of the economy. However, one of the most important indexes, the London Interbank Offered Rates, gets updated at 11:00 a.m. GMT every weekday.