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Definitions from WordNet | ||||
Definitions from the WebPrime Interest RateDescription:The prime interest rate refers to the lowest rate of interest at which major banks lend money to their most creditworthy customers, usually large corporations. It serves as a benchmark for determining interest rates on a wide range of loans and financial instruments. Sample Sentences:1. The government decided to lower the prime interest rate to stimulate economic growth. 2. Many small businesses struggle to qualify for loans due to their higher risk profile compared to the prime interest rate's target customers. 3. As the prime interest rate increased, homeowners felt the pressure of higher mortgage rates. Possible Related Products: | ||||
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