interest rate future

What is interest rate future?

interest rate future definition and meaning on Finance terms:
An exchange-traded forward contract. In such a contract, the purchase or sale of an interest rate instrument, e. g. a bond, is agreed on the contract date to be delivered at a future date, at a given price. Usually no actual delivery takes place; the contract is normally closed out before the agreed maturity. <

 

reference: https://www.ecb.europa.eu/home/glossary/html/index.en.html

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