freeze

/friːz/ noun [C]

Definition

› ECONOMICS a decision to fix prices, income levels, interest rates, etc. at a particular level and not allow any increases: a pay/price/interest rate/tax freeze To deal with the pension crisis, a two-year salary freeze has been imposed on the city's 11,000 employees.

› an official decision to stop an activity from continuing for a period of time: They promised to halve the deficit through a domestic spending freeze and improving government efficiency. The temporary nuclear freeze has not impressed Washington hardliners.a hiring/recruitment freeze Hiring freezes and layoffs are likely to continue into the new year. a freeze on sth The organization was set up to campaign for a freeze on the growing of GM crops and animals.

› LAW an official order, for example, from a judge or government, that prevents money or property from being used or moved: impose/put/place a freeze on sth A High Court judge placed a freeze on her worldwide assets. → See also credit freeze

(Definition of freeze noun from the Cambridge Business English Dictionary © Cambridge University Press)

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