Is there any website where I could check the LIBOR rate and the changes on a daily basis?

Question

What is the differnece between the LIBOR and interst rate and the bank of England rate? Are any of them linked? What do banks use to judge how much they charge for loans and mortgages?
If one goes up or down does it mean that the other must follow suit, or can one go up and the other down?

Answer 1

There are a number of sites which will give you today's LIBOR - see link below as an example.

The BoE base rate normally quoted is for overnight deposits, whereas LIBOR is for terms (1M, 3M etc). The Base rate is clearly a big influencing factor in setting LIBOR, and it will tend to roughly track it, but the interbank rate also includes an element of guessing where the base rate will move over the term of the deposit. Therefore if there's a base rate increase of 0.25% but the banks think it won't last more than a month or two, 3M LIBOR may only go up by, say, 0.2%, and 6M LIBOR by even less.

Most mortgage lenders base their rates on the BoE base rate: most commercial loans, including floating rate notes, are based on LIBOR.

Answer 2

http://www.bloomberg.com/markets/rates/index.html

interest rate may not necessarily be linked, although their changes are very highly correlated , especially within a currency...loans and mortgages are based on how much a bank can borrow money themselves, and then they add a spread, and loan this money to others in the forms of mortgages , business loans etc....it is very simple ,a bank tries to borrow at one rate themselves and then take this money and loan it to someone else at a higher rate..this spread is the banks profit..this profit and all of the bogus fees they charge us is why Bankers are rich, make lots of profits for shareholders and pretty much own everything.Wal Mart wants to start banking business themselves.....which maye be why 1 billion moslems believe money lending for interest(what bankers do) is a sin...and offensive....rock on....

Answer 3

http://www.bankrate.com/brm/ratewatch/other-indices.asp