Bank Base Rate
What is it? The bank base rate is set by the Bank of England and determines the cost of borrowing money. This base rate is used by commercial banks as a reference point when setting their own base rates. An increase in the base rate will increase the rates for mortgages and loans. However, savers will receive higher interest rates on their savings.Added By: Trinity
The Bank Base Rate definition has been viewed 281 Time(s)!
Send To Friends!
If you'd like to send the Bank Base Rate definition to yourself or to your friends/colleagues, just enter the e-mail addresses in the boxes below -We hope you now understand the meaning of Bank Base Rate. If you need any more information on this term, please don't hesitate to contact us.