prime rate

noun

: an interest rate formally announced by a bank to be the lowest available at a particular time to its most credit-worthy customers

called also prime interest rate

Examples of prime rate in a Sentence

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The cut will reduce the prime rate and home equity loans will move down by .25 percent as a result. —

Gord Magill, Newsweek, 21 Dec. 2024 The most direct impact from changes to the central bank's federal funds rate is on the prime rate, which is the rate banks charge on loans to customers with good credit. —

Rob Wile, NBC News, 18 Dec. 2024 Variable mortgage rates, on the other hand, often move in the direction of prime rates, which are directly impacted by the policy rates. —

Reza Ghazi, Forbes, 20 Dec. 2024 Interest rate and inflation updates The People’s Bank of China on Friday left its one- and five-year loan prime rates unchanged at 3.1% and 3.6%, respectively. —

Yeo Boon Ping, CNBC, 20 Dec. 2024 See all Example Sentences for prime rate