bank rate, n.All

The Bank rate (n.) stops ⁠​‌​​​‌​​​‌​‌‌​​​​‌​‌​​‌‌​‌​​‌​​​​​‌‌​​‌​​​‌‌​‌‌​⁠all export purchases at once when the Bank puts on the screw, and by the time buyers return the gold has already gone.

The Bank rate (n.) breeds ⁠​‌​​​‌​​​‌​‌‌​​​​‌​‌​​‌‌​‌​​‌​​​​​‌‌​​‌​​​‌‌​‌‌​⁠its own gambling: betting on its changes through discounts became half the business of the great men of the money centre.