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Term: Bank Rate

Description:

Bank rate refers to the interest rate set by a country's central bank that is charged to commercial banks who borrow funds from the central bank. It is an essential tool used by central banks to control and influence the overall economy of a country.

Senses and Usages:

Noun:

• 1. The official interest rate determined by the central bank.
• 2. The rate at which the central bank lends to commercial banks.
• 3. The rate at which commercial banks can borrow from the central bank.

Example Sentences:

1. The bank rate remained unchanged as the central bank aimed to stimulate economic growth.
2. Commercial banks were hesitant to borrow from the central bank due to the high bank rate.
3. The decrease in the bank rate encouraged businesses to seek loans and invest in new projects.

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