Interbank Offered Rate

Famous quotes containing the words offered and/or rate:

    There is no such thing as a free lunch.
    —Anonymous.

    An axiom from economics popular in the 1960s, the words have no known source, though have been dated to the 1840s, when they were used in saloons where snacks were offered to customers. Ascribed to an Italian immigrant outside Grand Central Station, New York, in Alistair Cooke’s America (epilogue, 1973)

    “Terence, this is stupid stuff:
    You eat your victuals fast enough;
    There can’t be much amiss, ‘tis clear,
    To see the rate you drink your beer.
    —A.E. (Alfred Edward)