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Bank Rate Monitor Index

The Bank Rate Monitor Index is the list of money market interest rates paid on deposits at 100 banks in the United States. The list (index) uses the average of interest rates paid on different types of depository accounts. It functions like a shopping list. They're paying x, my bank is paying y...time to change banks.

Since 2008, this could be construed as pretty boring reading, given that the top money market rates were at or below 1%.

Find other enlightening terms in Shmoop Finance Genius Bar(f)