Official Bank Rate: Difference between revisions
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imported>Doug Williamson (Create the page. Source: Bank of England web site accessed 09 October 2015.) |
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The official reference interest rate for the UK determined by the Bank of England. | 1. | ||
''UK.'' | |||
The official reference interest rate for the UK determined by the Bank of England's Monetary Policy Committee (MPC). | |||
The Official Bank Rate is the rate used for certain key transactions between the Bank of England and financial institutions. | |||
It is designed to have the effect of determining the level of near risk-free interest rates throughout the UK financial sector. | |||
The Official Bank Rate is often known as the 'Bank of England Base Rate'. | |||
2. | |||
Similar interest rates in other jurisdictions. | |||
Revision as of 11:52, 7 August 2016
1.
UK.
The official reference interest rate for the UK determined by the Bank of England's Monetary Policy Committee (MPC).
The Official Bank Rate is the rate used for certain key transactions between the Bank of England and financial institutions.
It is designed to have the effect of determining the level of near risk-free interest rates throughout the UK financial sector.
The Official Bank Rate is often known as the 'Bank of England Base Rate'.
2.
Similar interest rates in other jurisdictions.
