Discount rate

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Discount rate is the interest rate charged by the central bank when it makes loans to commercial banks.

Definition

According to Principles of Economics by Timothy Taylor (3rd edition),

Discount rate. The interest rate charged by the central bank when it makes loans to commercial banks.

According to Macroeconomics by Mankiw (7th edition),

Discount rate. The interest rate that the Fed charges when it makes loans to banks.

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