The phrase "approve a rate" is correct and usable in written English.
It can be used in contexts where someone is giving formal consent or agreement to a specific rate, such as pricing or interest rates.
Example: "The finance committee will meet tomorrow to approve a rate for the new loan."
Alternatives: "authorize a rate" or "ratify a rate".
Most lenders won't approve a rate lock until the borrower has a property under contract or a signed offer.
Like roughly half the utilities in the United States, Duke is regulated; it can charge more for power only if it builds a new power plant and persuades the regulator to approve a rate increase to pay for it.
Although the Fed decided not to raise interest rates at its meeting earlier this month - citing concern over China – speculation is building that the central bank could approve a rate hike as early as next month.
Members of the Fed's policy-making Open Market Committee are seen as likely to approve a rate increase when they meet Feb. 1 and 2. For the most part, fourth-quarter earnings reports are living up to forecasts, and in many cases are exceeding expectations.
Both the council and the mayor must approve a rate proposal before it takes effect.
AEP, for example, is still trying to persuade the Ohio Public Utility Commission to approve a rate-payer subsidy to guarantee profits at its aging fleet of coal fired power plants.
If the bank's nine-member policy board approved a rate increase, the benchmark overnight loan rate would probably rise from near zero to 0.25percentt, analysts said.
The Public Utility Commission has approved a rate increase of 3 cents a kilowatt hour, on top of a previous temporary 1-cent increase that was made permanent.
But even if the Public Utilities Commission approves a rate increase that somehow satisfies both consumer groups and Wall Street, analysts contend that the companies' prospects have changed.
Two weeks ago, his own loyalists on the powerful California Public Utilities Commission approved a rate increase (though it tried to target businesses rather than consumers).
The Water Board, a seven-member body that sets rates, has tentatively approved a rate hike as high as 18percentt, an enormous jump, especially considering that water bills just went up 11.5percentt last July.
