Meaning of the word tightening in English

What does tightening mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

tightening

UK /ˈtaɪtənɪŋ/

the activity of limiting the amount of money that people and companies are able to borrow or spend, for example by increasing interest rates:

Example:

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There is pressure on the Bank of England to increase the pace of monetary tightening.