Official Bank Rate
From ACT Wiki
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.
