business 8 word test
bank rate
the interest rate set by the MPC for the Bank Of England to lend to UK banks
bureau de change
a currency exchange business, where people go to exchange one currency for another
consumer prices index
the official government measure of uk inflation
exchange rate
the amount of one currrency needed to buy another currency or to pay for something in another currency
fixed rate
the provider fixes the interest rate at the start either for the whole term of a loan or for an agreed period
inflation
general increases in the price of goods and services overtime
Monetary Policy Committee (MPC)
part of the bank of england that is responsible for controlling uk inflation and setting interest rate
Real rate of return
the savings interest rate minus inflation