the rate of discount fixed by a bank or banks.
British. the discount charge set by a central bank, as by the Bank of England.
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2023
How to use bank rate in a sentence
The country with the longest history of negative central bank rates is offering homeowners 20-year loans at a fixed interest rate of zero.
The rise of the bank rate shows that money is scarce; its fall, that money is plentiful.The Childrens' Story of the War, Volume 1 (of 10) | James Edward Parrott
Of late years the changes in the bank rate have been frequent, and the fluctuations even in ordinary years very severe.
So little had the anxieties of the autumn been anticipated that the bank rate of discount was 3% on the 1st of January.
On the 1st of January 1858 the bank rate was lowered to 8% and the anxiety gradually passed away.
The bank rate was raised to 10% and permission was given by the government to suspend the act.
British Dictionary definitions for bank rate
another name for base rate (def. 2)
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012