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The difference between the reference rate which banks borrow [#permalink]
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(C) for me. Time taken 01:08.

A quick split would be "reference rate at". Choices with ""reference rate which" and "reference rate that" are just plain wrong. So, you can get rid of (A), (B) and (E) without any doubt.

Between (C) and (D), the usage of a "verb-ing" modifier to present result of the previous action in the preceding is clause is superior to the usage of an "independent clause" after comma. This breaks the flow. Also, the demonstrative pronoun "this" needs to followed by its intended referent. So, that gives you one more reason to ditch (D) into the deathly hallows and to put your money on (C). Lets see what OA has for us.
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The difference between the reference rate which banks borrow [#permalink]
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