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interest rate

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noun [countable] economics British English pronunciation: interest rate 
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singularinterest rate
pluralinterest rates
  1. the percentage that an institution such as a bank charges or pays you in interest when you borrow money from it or keep money in an account
    high/low interest rates:

    Consumers have been discouraged by high interest rates.

    cut interest rates (=reduce them):

    The government has cut interest rates seven times in the past year.

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