interest rate
US /ˈɪn.trəst ˌreɪt/
UK /ˈɪn.trəst ˌreɪt/
1.
the proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage of the loan outstanding.
:
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The central bank decided to raise the interest rate to control inflation.
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A low interest rate can encourage borrowing and economic growth.