Meaning of “cost of borrowing” in the English Dictionary

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"cost of borrowing" in Business English

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cost of borrowingnoun [ S ]

uk us

ECONOMICS, FINANCE interest and other charges that have to be paid when you borrow money:

raise/increase/drive up the cost of borrowing In November last year, the central bank raised the cost of borrowing to 3.75%.
cut/reduce/lower the cost of borrowing The Fed may have to cut the cost of borrowing to stimulate economic growth.
an increase/a rise in the cost of borrowing A further increase in the cost of borrowing might trigger a market crash.
For those who can secure mortgages, the cost of borrowing is now lower than it has been for several years.

(Definition of “cost of borrowing” from the Cambridge Business English Dictionary © Cambridge University Press)