Bank rate, also known as discount rate in American English, and (familiarly) the base rate in European English, is the rate of interest which a central bank charges on its loans and advances to a commercial bank. The bank rate is known by a number of different terms depending on the country, and has changed over time in some countries as the mechanisms used to manage the rate have changed.
Bank rate, also known as discount rate in American English, and (familiarly) the base rate in European English, is the rate of interest which a central bank charges on its loans and advances to a commercial bank. The bank rate is known by a number of different terms depending on the country, and has changed over time in some countries as the mechanisms used to manage the rate have changed.
Source: Wikipedia "Bank rate" · CC BY-SA 4.0
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