Focus on the pronunciation of bank rate
English definition of “bank rate”
noun [C] BANKING, FINANCE
› the rate of interest that is set by a central bank, and which is the lowest rate at which it lends money to other banks. This rate affects the interest rates which are then charged to customers by the banks: Most people agreed that the bank rate would remain at 0.5% at least for the next 12 months. → See also base rate
› the amount of interest that a bank charges: Falling bank rates have made interest-earning assets less attractive.