Definitions from the Web
Base Rate
Description:
Base rate refers to the benchmark interest rate set by a central bank or financial institution. It serves as the foundation for determining interest rates on loans, credit cards, and other financial products.
Sample Sentences:
- The Federal Reserve's base rate has a significant impact on the economy as a whole.
- If the base rate increases, borrowers may face higher interest costs on their mortgages.
- Before getting a credit card, it is advisable to compare base rates from different issuers.
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