Meaning of “peg” in the English Dictionary

"peg" in British English

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pegnoun

uk /peɡ/ us /peɡ/

peg noun (HOOK)

[ C ] a small stick or hook that sticks out from a surface and from which objects, especially clothes, can hang:

He took off his coat/hat and hung it on the peg.

[ S ] a reason for discussing something further :

They decided to use the anniversary as the peg for/a peg on which to hang a TV documentary.

More examples

pegverb

uk /peɡ/ us /peɡ/ -gg-

peg verb (FASTEN)

[ T usually + adv/prep ] to fasten something in place with pegs:

Make sure the tarpaulin is securely pegged down.
UK I'll peg out the clothes before I go to work.

[ T ] to make a price, currency, etc. stay at a particular level:

The agreement works because member nations haven't tried to peg prices.

Phrasal verb(s)

(Definition of “peg” from the Cambridge Advanced Learner’s Dictionary & Thesaurus © Cambridge University Press)

"peg" in American English

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pegnoun [ C ]

us /peɡ/

peg noun [ C ] (HANGING DEVICE)

a small, shaped piece of wood or other material on which objects can be hung:

She hung her apron on the peg.

peg noun [ C ] (ATTACHING TOOL)

a device used to attach something or hold it in place

pegverb [ T ]

us /peɡ/ -gg-

peg verb [ T ] (FIX AMOUNT)

to fix the amount or value of something in relation to something else:

There’s talk of trying to peg the value of the peso to the dollar.

peg verb [ T ] (DISCOVER)

infml to recognize or discover what something is; identify:

They had you pegged as a sucker the minute you walked in.

Phrasal verb(s)

(Definition of “peg” from the Cambridge Academic Content Dictionary © Cambridge University Press)

"peg" in Business English

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pegnoun [ C ]

uk /peɡ/ us

ECONOMICS, FINANCE an official arrangement for a price, currency, etc. to stay at a particular level or within a particular range:

peg against sth The government removed the currency from its peg against the dollar.

pegverb [ T ]

uk /peɡ/ us -gg-

ECONOMICS, FINANCE to officially control prices, income levels, currencies, etc. by keeping them at a particular level or within a particular range:

peg sth at sth Interest on the loan is pegged at 1.75% above base rate.
peg sth to sth Many of the world's currencies are pegged to the US dollar.
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US to guess the cost, amount, or level of something:

Future costs stemming from those lawsuits have been pegged as high as $8 billion.

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