Meaning of “peg” - Learner’s Dictionary

peg

verb [ T ] uk us /peɡ/ (present participle pegging, past tense and past participle pegged)

to fix the cost of borrowing money or the value of a country's money at a particular level:

[ often passive ] Interest rates were pegged at 8.2%.

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