capcap /kæp/ verb (capped, capping) [transitiveT]1ECONOMICS to put a limit on the amount of money that can be charged or spentThe total annual fee is capped at 1.5%.
Up to 150 local government jobs could go if the Council has its spending capped by the new Home Secretary.
2BANKING to put a limit on the amount of interest that can be charged on a loan, however much interest rates riseannual rate increases capped at two percentage points
—capping noun [uncountableU]Councillor Carr has warned that services will suffer as a result of capping.
—cap noun [countableC]The administration has put a cap on domestic spending.
The banks were instructed to put a cap on credit card interest rates.