bank rate

noun

1. the rate of discount fixed by a bank or banks.

2. British.,  the discount charge set by a central bank, as by the Bank of England.

bank rate

noun

1. another name for base rate

Word History and Origins

Origin of bank rate¹

First recorded in 1875–80

Example Sentences

In recent days and weeks, many lenders have been cutting the interest rates on their new, fixed deals as they compete for custom, and in anticipation of future central bank rate cuts.

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Solving this dilemma means reducing bank rates to encourage Japanese firms to invest in R&D, creating breakthroughs for long-term growth.

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The bank rate – which is the benchmark interest rate – is expected to fall further, according to independent forecasters at the Office for Budget Responsibility.

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Other lenders have also been lowering their rates ahead of a hoped-for central bank rate cut in August.

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Central bank rates - and the rates on new mortgage deals have generally shot up over the last couple of years.

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Related Words

• interest