Schedule 2ZA, paragraph 8(4)

The “benchmark rate” is— the percentage rate announced from time to time by the Monetary Policy Committee of the Bank as the official dealing rate, or where an order under section 19 (Treasury reserve powers) is in force, any equivalent percentage rate determined by the Treasury under that order.

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Source: legislation.gov.uk · retrieved 2026-09-04 · Text as consolidated on 2026-07-13; changes after this date are not shown.