base rate

1. 1.

   the interest rate set by the Bank of England for lending to other banks

   Broaderinterest rate

   United Kingdom

Questions about base rate

What does base rate mean?

base rate means "the interest rate set by the Bank of England for lending to other banks".

Is base rate a common word?

base rate is banded "Uncommon" — turns up in careful writing rather than conversation. The band comes from how often the word appears in a large corpus of everyday English, not from an editor's impression.