Wholesale money markets

The term ‘money market’ covers the vast network of deals involving the lending and borrowing of cash in a range of currencies, generally between financial institutions such as banks, as well as manufacturers and the government. It also covers the market for tradable securities, such as Treasury Bills (shorter-term government-issued IOUs).

‘Wholesale’ means funds borrowed or lent by those financial institutions in large quantities, rather than the smaller amounts dealt in by private individuals. Money market rates vary between currencies and are determined by the supply of, and demand for, short-term cash. Being market-driven, they paint a truer picture of loan costs than central banks’ official interest rates.

Paul Hodges: house prices could fall 50% in 'Great Unwinding'

Merryn Somerset Webb interviews Paul Hodges about deflation, the global economy's 'Great Unwinding', and how Britain's house prices could halve.


Which investment platform?

When it comes to buying shares and funds, there are several investment platforms and brokers to choose from. They all offer various fee structures to suit individual investing habits.
Find out which one is best for you.


26 January 1808: Australia's Rum Rebellion

On this day in 1808, Major George Johnson carried out the only forceful takeover of power in Australian history during the Rum Rebellion.