Term:
Commercial interest reference rates (CIRRs)
Definition:

A set of currency-specific interest rates for major OECD countries. CIRRs have been established for 13 currencies, the majority of which are based on either the five-year government bond yields or on three-, five- and seven-year bond yields, according to the length of the repayment period. CIRRs are adjusted monthly and are intended to reflect commercial rates.

Domain:
Finance
Source:
IMF, 2003, External Debt Statistics: Guide for Compilers and Users – Appendix III, Glossary, IMF, Washington DC
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