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basis point

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noun Finance.

one hundredth of one percent, as of interest rates, or investment yields.

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“Was” is used for the indicative past tense of “to be,” and “were” is only used for the subjunctive past tense.

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Origin of basis point

First recorded in 1965–70
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2021

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British Dictionary definitions for basis point

basis point

noun

a measure used for describing interest rates, equal to one hundredth of a percentage point (0.01%)
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
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