BASE RATE Definition & Meaning

base rate

noun

the rate of pay per unit of time, as by the hour, or per piece, or for work performed at an established standard rate.

base rate

noun

the rate of interest used by individual commercial banks as a basis for their lending rates
informal.
the rate at which the Bank of England lends to the discount houses, which effectively controls the interest rates charged throughout the banking system
statistics the average number of times an event occurs divided by the average number of times on which it might occur

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�y��vlog History and Origins

Origin of base rate¹

First recorded in 1920–25

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Example Sentences

Examples have not been reviewed.

Stock markets in the United States, Europe and Asia plunged in the aftermath of President Trump’s announcement, which included a 10% base rate hike on nearly all foreign imports.

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Some countries will only face the base rate.

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About 600,000 homeowners have a mortgage that "tracks" the Bank of England's rate, so a base rate change has an immediate impact on monthly repayments.

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The prospect of further cuts in the base rate by the Bank of England has given mortgage providers confidence to reduce their own rates.

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Reducing the base rate would see an immediate impact for those on "tracker" mortgages.

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