Also found in: Thesaurus, Financial, Wikipedia.
1. (Banking & Finance) Brit the rate of interest used by individual commercial banks as a basis for their lending rates
2. (Banking & Finance) informal Brit the rate at which the Bank of England lends to the discount houses, which effectively controls the interest rates charged throughout the banking system
3. (Statistics) statistics the average number of times an event occurs divided by the average number of times on which it might occur
Switch to new thesaurus
|Noun||1.||base rate - the interest rate set by the Bank of England for lending to other banks|
Britain, Great Britain, U.K., UK, United Kingdom, United Kingdom of Great Britain and Northern Ireland - a monarchy in northwestern Europe occupying most of the British Isles; divided into England and Scotland and Wales and Northern Ireland; `Great Britain' is often used loosely to refer to the United Kingdom