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Interest rate is average prime lending rate till June 2010 and base rate afterwards.

This was put behind an image of governors in a newspaper, with the time periods of respective tenures.It also mentioned the GDP growth and inflation in their respective tenures.

I am confused about the meaning of bold part.Also, the tense seems to be weird.For, e.g., he is a school-going child till 2010 and (then is) college-student afterward.I think "was" , or "have been" are better than "is" here.

An image
Though the image is unclear, it will give you an idea.The bottom two lines are what I wrote above.

  • This might be Headlinese style writing, for space limited usages like headlines and captions. You should add the source so the phrase can be viewed in actual usage. – user3169 Jul 2 '16 at 5:01
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It appears to be a definition.

Interest rate is (defined to be the) average prime lending rate [until] June 2010 and [then] base rate afterwards.

It is defining interest rate, which appears in the graphic. I have boxed in in purple.

Repeat of image from the question

I'm not entirely familiar with these financial terms, but "prime lending rate" is one thing, and "base rate" is another thing. I am not sure if "average" means "typical", or if "average prime lending rate" has a special meaning in finances.

Here is some info I found on the two.

What is the 'Prime Rate'
The prime rate is the interest rate that commercial banks charge their most credit-worthy customers.

base rate

  1. (Banking & Finance) Brit the rate of interest used by individual commercial banks as a basis for their lending rates
  2. (Banking & Finance) informal Brit the rate at which the Bank of England lends to the discount houses, which effectively controls the interest rates charged throughout the banking system

So all together, the average prime lending rate is used as the interest rate until June 2010, and then base rate is used as the interest rate afterwards.

| improve this answer | |
  • 'Was' should be better fit here? – Anubhav Singh Jul 2 '16 at 8:24
  • Do you mean "Interested rate was ..."? It depends on the temporal context. But since we are talking about this specific graphic, in this case, interest rate is defined to be what I explained in my post. – Em. Jul 4 '16 at 2:12
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Your example sentence

Interest rate is average prime lending rate till June 2010 and base rate afterwards.

is part of a legend explaining the definition of one of the values being shown: "interest rate".

Interest rate is
interest rate is defined as

average prime lending rate
we use a moving average of the prime lending rate as out interest rate value

till June 2010
beginning at the inception of the graph until June 2010

and base rate afterwards
then we use the base rate as the interest rate value after June 2010

In your example, the average prime lending rate is used until midway through Subbarao's term when the calculation changed.

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  • What do you mean by 'definition of one son the values'? – Anubhav Singh Jul 2 '16 at 8:26
  • Should we had used 'was'? – Anubhav Singh Jul 2 '16 at 8:27
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    "definition of one of the values" - it was a typo. If you means should "was" be used instead of "is", the answer is no, since what is being described is the value used in the graph even though it it's being calculated from historic values – Peter Jul 2 '16 at 15:13

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