(in Britain) the minimum rate at which the Bank of England would lend to discount houses between 1971 and 1981, after which it was replaced by the less formal base rate
WordReference Random House Unabridged Dictionary of American English © 2026
min′imum lend′ing rate′,
- Banking, Businessthe official interest rate charged by the Bank of England and below which it will refrain from lending money.
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