Business unit and Official Bank Rate: Difference between pages
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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. | |||
It is used by many financial institutions when setting interest rates for certain of their products. | |||
The Official Bank Rate is often known as the 'Bank of England Base Rate' (BBR). | |||
2. | |||
Similar interest rates in other jurisdictions. | |||
== See also == | == See also == | ||
* [[ | * [[Bank of England]] | ||
* [[Bank Rate]] | |||
[[ | * [[Base rate]] | ||
* [[Monetary Policy Committee]] | |||
* [[MLR]] | |||
* [[Reference rate]] | |||
Revision as of 11:41, 29 October 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.
It is used by many financial institutions when setting interest rates for certain of their products.
The Official Bank Rate is often known as the 'Bank of England Base Rate' (BBR).
2.
Similar interest rates in other jurisdictions.
