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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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