noun
the interest rate set by the Bank of England for lending to other banks
• Regions: ↑United Kingdom, ↑UK, ↑U.K., ↑Britain, ↑United Kingdom of Great Britain and Northern Ireland, ↑Great Britain
• Hypernyms: ↑interest rate, ↑rate of interest
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noun : an established and usually guaranteed rate of pay per unit of time (as per hour or day) or for production at the standard rate
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the rate of pay per unit of time, as by the hour, or per piece, or for work performed at an established standard rate. Also called basic rate.
[1920-25]
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base rate noun
The rate, determined by a bank, on which it bases its lending rates of interest
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Main Entry: ↑base
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the rate of interest that banks use to calculate how much interest to charge on money they lend to their customers
fears of another rise in base rates
Thesaurus: general words relating to bankinghyponym
See also: bank rate
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a rate of interest, set by a central bank, that banks in Britain use when calculating the amount of interest that they charge on money they lend
Useful english dictionary. 2012.