Base rate
From ACT Wiki
A widely recognised and quoted interest rate - such as the Fed funds rate, the prime rate, or the London Inter Bank Offered Rate (LIBOR) - by reference to which a rate of interest is calculated.
For example, ‘LIBOR plus 50 basis points’.
A central bank rate can be known as a Base Rate. This is the rate at which they will lend overnight funds to financial institutions and by changing this they can influence market rates.
