The base rate is often used as a basis for the calculation of other rates, some of which eg credit card
repayment rates, bear no resemblance to the base rate. Some longer-term, perhaps more
responsible, lending, uses changes in the base rate to determine a repayment rate for debt eg
mortgage rates. For credit card repayment rates and for late payments in business contracts there is
often a considerable amount of freedom to agree relevant rates, but government is often
encouraged to influence to try to ensure some level of sanity.
The answer which
