Optical/X-ray correlations as a signature of jet-disc coupling in the accreting black hole XTE J1118+480

We interpret the rapid correlated UV/optical/X-ray variability of XTE J1118+480 as a signature of the coupling between the X-ray corona and a jet emitting synchrotron radiation in the optical band. We propose a scenario in which the jet and the X-ray corona are fed by the same energy reservoir where large amounts of accretion power are stored before being channelled into either the jet or the high energy radiation. This time-dependent model reproduces the main features of the rapid multi-wavelength variability of XTE J1118+480. A strong requirement of the model is that the total jet power should be at least a few times larger than the observed X-ray luminosity, implying a radiative efficiency for the jet _j  3 × 10^?3. This would be consistent with the overall low radiative efficiency of the source. We present independent arguments showing that the jet probably dominates the energetic output of all accreting black holes in the low-hard state.