noun
- the rate of pay per unit of time, as by the hour, or per piece, or for work performed at an established standard rate.
noun
- British the rate of interest used by individual commercial banks as a basis for their lending rates
- British informal the rate at which the Bank of England lends to the discount houses, which effectively controls the interest rates charged throughout the banking system
- statistics the average number of times an event occurs divided by the average number of times on which it might occur