Euro zone and Official Bank Rate: Difference between pages

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''The euro.''
1. ''UK.''


The Euro zone is the collective name for the 19 countries adopting European Monetary Union (EMU) in full.
The official reference interest rate for the UK determined by the Bank of England's Monetary Policy Committee (MPC).
Sometimes written 'Eurozone', 'eurozone' or 'Euro-zone'.


More formally known as the 'euro area' and more informally as 'euroland'.  
The Official Bank Rate is the rate used for certain key transactions between the Bank of England ('the Bank') 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 19 countries in the euro area are:


Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Portugal, Slovakia, Slovenia and Spain.
It is used by many financial institutions when setting interest rates for certain of their products.




The eight European Union (EU) countries which are not in the euro area are:
The Official Bank Rate is often known - externally to the Bank - as the 'Bank of England Base Rate' (BBR).


Bulgaria, Croatia, the Czech Republic, Denmark, Hungary, Poland, Romania and Sweden.
Within the Bank of England, it is often abbreviated to 'the Bank Rate'.




== See also ==
2.
* [[Bank supervision]]
* [[Brexit]]
* [[Central bank]]
* [[Core countries]]
* [[ESCB]]
* [[Eurobond]]
* [[European Central Bank]]
* [[European Financial Stability Facility]]
* [[European Monetary Union]]
* [[European Union]]
* [[Eurosystem]]
* [[Grexit]]
* [[Periphery countries]]


Similar interest rates in other jurisdictions.




==== Currencies of EU countries not in the euro area ====
== See also ==
* [[BGN]]
* [[Bank of England]]
* [[HRK]]
* [[Bank Rate]]
* [[CZK]]
* [[Base rate]]
* [[DKK]]
* [[Monetary Policy Committee]]
* [[HUF]]
* [[MLR]]
* [[PLN]]
* [[Reference rate]]
* [[RON]]
* [[Term Funding Scheme]]
* [[SEK]]
* [[GBP]]
 
[[Category:Long_term_funding]]

Revision as of 14:13, 23 March 2020

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 ('the Bank') 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 - externally to the Bank - as the 'Bank of England Base Rate' (BBR).

Within the Bank of England, it is often abbreviated to 'the Bank Rate'.


2.

Similar interest rates in other jurisdictions.


See also

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