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  1. Named, or 'headline'. A nominal annual rate would be a market rate named, or quoted, in a particular financial market.
  2. A term which has not been restated to exclude the effects of inflation. This is the most commonly used basis for measuring and quoting financial information, also known as 'money terms'. (Contrasted with real terms.)
  3. Small. For example, nominal damages or compensation would be a small amount, indicating that the party awarded them was technically in the right, but that the court did not approve of the case being brought to litigation in the circumstances.

See also