interest rate that is reset periodically, usually every couple of months or sometimes daily. Bloomberg Financial Dictionary
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A rate of interest which varies over time, depending on market rates of interest. Dresdner Kleinwort Wasserstein financial glossary
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floating rate UK US noun [C] (also adjustable rate, also variable rate)
► FINANCE an interest rate that can change over a period of time: »
Some investors prefer floating rate bonds over the fixed rates, as interest rates are not predicted to change in the near future.
»a floating rate loan/mortgage/liability
► ECONOMICS FLOATING EXCHANGE RATE(Cf. ↑floating exchange rate)
Financial and business terms. 2012.