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Acronym Monday: BPS

Basis Point(s)

I was actually the runner up after Ryan Seacrest for the gig on Wheel of Fortune ;)

BP or BPS stands for Basis Point.

This is a unit of measurement for interest rates that are equal to 1/100th of 1.0%.

For example, if the Bank of Canada increased the overnight lending rate by 25 Basis Points, this also means it was increased by 0.25%.

Now, off to enjoy my prize!


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