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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 rate rising/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 noun from the Cambridge Business English Dictionary © Cambridge University Press)
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