society > trade and finance > financial dealings > types of money-dealing > [noun] > use of bills of exchange > discounting > rate of discounting (2)
(a) any rate of interest charged by a bank; (b) (often with capital initial, sometimes also without article) the rate set by the Bank of England…
Banking and Finance. A rate (rate, n.1 6b) used for discounting bills of exchange and promissory notes. Cf. discount, v. 3a.