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Moneyextra.com Dictionary
Base Rate
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Base rate sometimes referred to as repo rate is the minimum rate at which banks are prepared to lend money - it acts as the benchmark for other interest rates including personal loans and mortgages.
The central bank moves base rates by changing the dealing rates at which it buys bills from the discount houses.
See also Base Rate History and Bank of England .
©Moneyextra.com
Moneyextra.com recommends you take independent financial advice before acting on any article
Back2009-02-17 00:00:00 © Moneyextra.com
Base rate sometimes referred to as repo rate is the minimum rate at which banks are prepared to lend money - it acts as the benchmark for other interest rates including personal loans and mortgages.
The central bank moves base rates by changing the dealing rates at which it buys bills from the discount houses.
See also Base Rate History and Bank of England . ©Moneyextra.com Moneyextra.com recommends you take independent financial advice before acting on any article 2009-02-17 00:00:00 © Moneyextra.com