One of the mysteries of the English language finally explained.
One hundredth of one percent, used chiefly in expressing differences of interest rates.
- ‘The prospect of a 75 basis point interest rate cut had investors breathing easier by late last week, but it was another tough week overall, especially for tech investors.’
- ‘Adding these factors, you might expect us to show modest declines in our net interest margin of about a basis point a quarter this year.’
- ‘Fifteen-year fixed mortgage rates also declined one basis point, to 5.14%.’
- ‘Each percentage point of inflation is associated with a 146 basis point increase in the earnings yield.’
- ‘A basis point is one hundredth of a percentage point.’
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