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English definition of “interest rate”

interest rate

noun [C]
 
 
(also rate of interest) BANKING, FINANCE
the percentage amount that you pay for borrowing money, or get for lending money, for a period of time, usually a year: a 7% interest rate an interest rate of 7% a high/low/zero interest raterising/falling interest rates Falling interest rates acted as a tax cut for households. rumours of an interest rate rise Interest-rate fluctuations may affect present and future cash flows of the company. A rise in the interest rate causes the value of existing bonds to fall. The government may cut interest rates to boost growth. The bank has decided to leave interest rates unchanged. Some cards charge an interest rate of over 16%. The National Bank has set the interest rate at 6%. a variable/fixed interest rate long-term/short-term interest rates
(Definition of interest rate from the Cambridge Business English Dictionary © Cambridge University Press)
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