Zeev, short term rates are very important for a lot of businesess. Comercial Paper Market Volume for maturities between 1-105+ days is over 100B $US, where 60% of that volume is 1-4 days. (average daily issuance)
Those rates are obviously very important to Finance industry, as well as for all companies doing extensive international business. The reason being is that they represent an immediate cash out/in flow, and they "may" have a sigificant impact on some businesses.