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FINANCIAL DICTIONARY & GLOSSARY: INT - INV
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interest rates - the cost of borrowing money, expressed as a percentage of the loan per period of time.

interest-rate swap - an exchange between two parties, e.g. of fixed interest bonds for floating rate bonds-, in an attempt to reduce risks or costs.

interference - the negative way of describing governmental action in the economy.

intermediaries - all the people or organizations in the marketing channel between producers and customers.

intermediate goods - goods that will be further processed or transformed before being sold to consumers.

internal audit - a control by a company's own accountants, checking for completeness, accuracy and deviations from standard accounting procedures.

International Monetary Fund (the IMF) - receives quotas from members and lends these, and special drawing rights, to countries with balance of payments problems.

international trade - the exchange (buying and selling) of goods and services between different countries.

intervention - the neutral term to describe governmental action in the economy.

in the black - to have a surplus, an excess of income over expenditure.

in the red - to have a deficit, an excess of expenditure over income.

intrinsic value - exists when the exercise price of a call option is below (or of a put option is above) the current market price of the underlying security.

inventory - (especially US) an amount of goods stored ready for sale; in accounting, the value of raw materials, work in progress and finished but unsold products.

inventory turnover - the number of times the average inventory has been sold during a period.

invest - to spend money in order to produce income or profits.

investment - the purchase of materials, machines, property, securities, etc. in order to produce income or profits.

investment bank - the American name for what the British call a merchant bank - one that arranges finance for industry, international trade, etc.

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