minimum lending rate

American  

noun

1. the official interest rate charged by the Bank of England and below which it will refrain from lending money.

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minimum lending rate British  

noun

1.  MLR.  (in Britain) the minimum rate at which the Bank of England would lend to discount houses between 1971 and 1981, after which it was replaced by the less formal base rate

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Example Sentences

The nation's minimum lending rate was reduced from 14% to 12%, a move designed to stimulate new investment and reduce the cost of British exports.

From Time Magazine Archive

The first result of the 51% discount rate, highest since the 6% rate posted by the New York Reserve Bank for three months in 1929, was a rush by commercial banks to lift their minimum lending rate from 6% to a record 61% annual interest.

From Time Magazine Archive