Libor: Britain's most important interest rate

Tim Bennett explains the London inter-bank deposit rate - or 'Libor' - how it's calculated, and why it matters so much to you.

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More important than the Bank of England's base rate, 'Libor' influences every aspect of your life. Here, Tim Bennett explains what Libor is, how it's calculated, and why it matters so much to you.

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Tim Bennett

Tim graduated with a history degree from Cambridge University in 1989 and, after a year of travelling, joined the financial services firm Ernst and Young in 1990, qualifying as a chartered accountant in 1994.

He then moved into financial markets training, designing and running a variety of courses at graduate level and beyond for a range of organisations including the Securities and Investment Institute and UBS. He joined MoneyWeek in 2007.