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Nessie000 Posted 17 years ago
Vocabulary
'Discount rate'?
Hi,
Please have a look at one meaning of the word 'discount rate' defined by the Oxford Business English dictionary:
discount rate noun [C]
(Finance)
in the US and other countries, the rate of interest at which banks can borrow money from the Federal Reserve Bank
=> Does the bold part imply the word doesn't have that meaning in the UK?
Many thanks,
Nessie.
Please have a look at one meaning of the word 'discount rate' defined by the Oxford Business English dictionary:
discount rate noun [C]
(Finance)
in the US and other countries, the rate of interest at which banks can borrow money from the Federal Reserve Bank
=> Does the bold part imply the word doesn't have that meaning in the UK?
Many thanks,
Nessie.
Top answer
Yes, that is the impliction.
- Yes, that is the impliction.
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4 Answers
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Just a thought on this:
the fact that "the US and other countries" is mentioned so specifically doesn't necessarily have something to do with "discount rate", but could refer to the country have a Federal Reserve Bank or not.
Vince
the fact that "the US and other countries" is mentioned so specifically doesn't necessarily have something to do with "discount rate", but could refer to the country have a Federal Reserve Bank or not.
Vince
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Thank you very much, MM and Vince. Well, I think I agree with Vince, because every country must have a national bank (which is the Federal Reserve Bank in the case of the US and some countries). The UK (and others) may not have that FED, but they still must have a national bank, which decides the discount rate at which it lends money to commercial banks.
But what is that bank called in t
But what is that bank called in t
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In England, it's called the Bank of England. For Europe, it's called the European Central Bank.
Vince
Vince
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