What is bps in economics?

BPS = basis point. Definition: A unit for measuring a bonds yield that is equal to 1/100 of 1% of yield. Also known as "bips". Same as 1/10,000 of yield (1% divided by 100). For example, if a bond goes from 5.0% yield to 5.5% yield it is said to have increased 50 bps / 50 basis points