0.0001

A basis point (often denoted as or bp; rarely, permyriad, colloquially referred to in the plural as "bips") is a unit equal to 1/100th of a percentage point. Put another way: 1 bp = 0.01%

It is frequently, but not exclusively, used to express differences in interest rates of less than 1% per year. For example, a difference of 0.10% is equivalent to a change of 10 basis points.