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See: Basis point.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
A unit of percentage measure equal to 0.01%. Basis points are commonly used when discussing changes to interest rates, equity indices, and fixed-income securities. In the media, perhaps its most common use is in reporting a central bank's changes to prevailing interest rates. For example, a newspaper might report that the Federal Reserve cut interest rates 100 basis points when it means that prevailing rates have dropped from 1.5% to 0.5%.
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