Base Rate

1. Interest rate charged by banks to their best corporate customers in Great Britain. It is the British equivalent of the Prime Rate in the United States.

2. Interest rate used as the basis for setting and adjusting rates described as adjustable, floating, or variable, usually the base or prime rate as defined above; a Benchmark, such as an index or the 10-year Treasury note; or a Money Market rate, such as the rate on Treasury bills. See also Cost-Of-Funds Index (Cofi).

One-time rate charged by an advertising medium before any discounts are offered; also called open rate. Discounts are offered on the basis of frequency (how often the advertisement or commercial will run) and volume (the amount of money being spent). See also basic rate; card rate.