Meaning of ratchet
Pronunciation: (rach'it), [key]
- a toothed bar with which a pawl engages.
- (not in technical use) a pawl or the like used with a ratchet or ratchet wheel.
- a mechanism consisting of such a bar or wheel with the pawl.
- a steady progression up or down: the upward ratchet of oil prices.
- to move by degrees (often fol. by up or down): to ratchet prices up; Interest rates have been ratcheting downward.
- ratchet (Thesaurus)