What does bank rate mean?

bank rate meaning in Law Dictionary

The interest rate the the central lender advises short term loans be given. The commercial finance companies provide this rate also it affects the opportunities. The newer term because of this is base rate and prime price.

bank rate meaning in Business Dictionary

interest from which a central lender will advance short term loans to commercial banking institutions. Alterations in bank rate tend to be mirrored inside prime financing rates provided by commercial banks (to their most readily useful clients), which influence assets such as for instance lender build up, relationship dilemmas, mortgages. This term has actually mainly already been replaced by more recent terms base-rate and prime price.

bank rate meaning in General Dictionary

the rebate price fixed by a central bank