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Rating:The Bank of England (BoE) is the UK's central bank. Our mission is to deliver monetary and financial stability for the people of the United Kingdom.
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Rating::''For the company, see Bankrate.'' Bank rate, also referred to as the discount rate, is the rate of interest which a central bank charges on the loans and advances Whenever the banks have any shortage of funds they can borrow it from the central bank.
read moreThe official bank rate is the interest rate that the Bank of England charges Banks for secured overnight lending. It is the British Government's key interest rate for enacting monetary policy. It is more analogous to the US discount rate than to the Federal funds rate. The security for the lending can be any of a list of eligible securities and are transacted as overnight repurchase agreements.
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