The Riksbank has set the reference rate for the period 1 January – 30 June 2009 at 2 per cent.
The reference rate is equivalent to the repo rate that applied immediately prior to the calendar half-year during which the reference rate is to apply. If the repo rate is not a whole or half number, the reference rate is rounded up to the nearest half a percentage point.
Who sets the reference rates and on what basis?
The reference rate is set by the Riksbank at six-monthly intervals and is based on the repo rate applying at the end of the previous six-month period, rounded up to the nearest whole or half percentage point.
Where does the definition come from?
The definition is from an EC Directive on combating late payments to prevent delays in the settlement of business transactions.
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