The interest rate that the Bank of EnglandÂ’s Monetary Policy Committee uses to set monetary policy. In setting the repo rate, the Bank of England examines the risk of inflation as well as economic activity. In general, other countries and traders have their own version of a repo rate, which is the interest rate set on repurchase agreements in which a securities holder sells the securities to an investor with an agreement to repurchase them at a fixed price on a fixed date.