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United Kingdom Interest Rate

Last Release
May 05, 2022
Actual
1
Forecast
N/A
Previous
0.75
Frequency
Daily
Units In
%
Next Release
Jun 16, 2022
Time to Release
24 Days 0 Hours
Highest
Lowest
Average
Date Range
Source
17
Nov 1979
0.1
Mar 2020
7.17 %1971-2022Bank of England
In the United Kingdom, benchmark interest rate is set by the Monetary Policy Committee (MPC). The Bank of England official interest rate is the repo rate. This repo rate applies to open market operations of the Bank of England with a group of counterparties (banks, building societies, securities firms).

Latest Updates

The Bank of England raised the key Bank Rate by 25bps to 1% during its May 2022 meeting, which is the 4th consecutive rate hike, pushing borrowing costs to the highest since early 2009. The decision came in line with expectations although 3 members voted for a bigger 50bps increase. Policymakers said global inflationary pressures have intensified sharply following Russia’s invasion of Ukraine which has led to a material deterioration in the outlook for UK growth. The UK economy is estimated to have risen by 0.9% in Q1 but the GDP is expected to be broadly unchanged in Q2 and to contract around 1% in Q4, due to a decline in households’ incomes, including that stemming from the projected rise of around 40% in retail gas and electricity prices when the Ofgem price caps are next reset in October. In 2023, GDP is seen shrinking by 0.25%. Meanwhile, inflation is expected to rise further over the remainder of the year, to just over 9% in Q2 and averaging slightly over 10% at its peak in Q4.

United Kingdom Interest Rate History

Last 12 readings

United Kingdom Money Indicators

All United Kingdom indicators
Indicator
Last
Previous
Min
Max
Unit
Frequency
Range
Banks Balance Sheet
4,519,849
Mar 2022
4,524,669
Feb 2022
3,342,179
Sep 2014
4,524,669
Feb 2022
GBP MillionMonthly2010-2022
Central Bank Balance Sheet
1,087,872
May 2022
1,088,102
Apr 2022
76,991
Feb 2007
1,119,387
Dec 2021
GBP MillionWeekly2006-2022
Deposit Interest Rate
0
Feb 2022
0
Jan 2022
0
Feb 2022
4.25
Oct 2008
%Monthly2008-2022
Foreign Exchange Reserves
190,766.27
Apr 2022
200,329.33
Mar 2022
35,190.42
Feb 2000
203,709.23
Dec 2021
USD MillionMonthly1999-2022
Interbank Rate
1.33
May 2022
1.33
May 2022
0.02
Dec 2020
15.63
Oct 1989
%Daily1986-2022
Interest Rate
1
May 2022
0.75
Apr 2022
0.1
Mar 2020
17
Nov 1979
%Daily1971-2022
Lending Rate
0.75
Feb 2022
0.5
Jan 2022
0.35
Mar 2020
4.75
Oct 2008
%Monthly2008-2022
Loans To Private Sector
2,698,489
Dec 2021
2,663,478
Sep 2021
8,755
Mar 1963
2,812,955
Mar 2009
GBP MillionQuarterly1963-2021
Money Supply M0
94,557
Apr 2022
95,598
Mar 2022
3,530
Jul 1969
95,756
Jan 2022
GBP MillionMonthly1969-2022
Money Supply M1
2,425,104
Mar 2022
2,385,190
Feb 2022
82,369
Sep 1986
2,425,104
Mar 2022
GBP MillionMonthly1986-2022
Money Supply M2
3,031,444
Mar 2022
2,993,506
Feb 2022
167,346
Dec 1986
3,031,444
Mar 2022
GBP MillionMonthly1986-2022
Money Supply M3
3,562,321
Mar 2022
3,527,939
Feb 2022
263,079
Jan 1987
3,562,321
Mar 2022
GBP MillionMonthly1987-2022
Private Debt to GDP
212.8
Dec 2020
190.3
Dec 2019
154.5
Dec 1997
238
Dec 2008
%Yearly1995-2020

Interest Rate across Europe

Interest Rate global view
Country
Last
Previous
Min
Max
Unit
Frequency
Range
Albania
1
May 2022
1
Mar 2022
0.5
Mar 2020
8.5
Apr 2002
% Daily2001-2022
Armenia
9.25
May 2022
9.25
May 2022
3
Aug 2005
10.5
Feb 2015
% Daily2003-2022
Austria
0
Apr 2022
0
Mar 2022
0
Apr 2022
4.75
Oct 2000
% N/A1998-2022
Belarus
12
Feb 2022
9.25
Jan 2022
7.75
Jun 2020
480
Nov 1994
% Daily1991-2022
Belgium
0
Apr 2022
0
Mar 2022
0
Apr 2022
4.75
Oct 2000
% N/A1998-2022
Bosnia and Herzegovina
3.08
Mar 2022
3.07
Jan 2022
2.83
Nov 2020
80.25
Jan 1999
% Monthly1998-2022
Bulgaria
0
Apr 2022
0
Mar 2022
0
Apr 2022
5.77
Dec 2008
% Daily2005-2022
Croatia
2.5
Mar 2022
2.5
Jan 2022
2.5
Oct 2015
4,290.85
Sep 1993
% Daily1992-2022
Cyprus
0
Apr 2022
0
Mar 2022
0
Apr 2022
4.75
Oct 2000
% N/A1998-2022
Czech Republic
5.75
May 2022
5
Apr 2022
0.05
Nov 2012
39
Jun 1997
% Daily1995-2022
Denmark
-0.6
Apr 2022
-0.6
Mar 2022
-0.75
Feb 2015
15
Nov 1992
% Daily1992-2022
Estonia
0
Apr 2022
0
Mar 2022
0
Apr 2022
4.75
Oct 2000
% N/A1998-2022
Euro Area
0
Apr 2022
0
Mar 2022
0
Apr 2022
4.75
Oct 2000
% Daily1998-2022
Finland
0
Apr 2022
0
Mar 2022
0
Apr 2022
4.75
Oct 2000
% N/A1998-2022
France
0
Apr 2022
0
Mar 2022
0
Apr 2022
4.75
Oct 2000
% N/A1998-2022
Georgia
11
May 2022
11
Mar 2022
3.75
Aug 2013
12
Apr 2008
% Daily2008-2022
Germany
0
Apr 2022
0
Mar 2022
0
Apr 2022
4.75
Oct 2000
% N/A1998-2022
Greece
0
Apr 2022
0
Mar 2022
0
Apr 2022
4.75
Oct 2000
% N/A1998-2022
Hungary
5.4
Apr 2022
4.4
Mar 2022
0.6
Jul 2020
28
Jan 1995
% Daily1987-2022
Iceland
3.75
May 2022
2.75
Apr 2022
0.75
Nov 2020
18
Oct 2008
% Daily1998-2022
Ireland
0
Apr 2022
0
Mar 2022
0
Apr 2022
4.75
Oct 2000
% N/A1998-2022
Italy
0
Apr 2022
0
Mar 2022
0
Apr 2022
4.75
Oct 2000
% N/A1998-2022
Latvia
0
Feb 2022
0
Jan 2022
0
Feb 2022
4.75
Oct 2000
% N/A1998-2022
Lithuania
0
Apr 2022
0
Mar 2022
0
Apr 2022
4.75
Oct 2000
% N/A1998-2022
Luxembourg
0
Apr 2022
0
Mar 2022
0
Apr 2022
4.75
Oct 2000
% N/A1998-2022
Macedonia
1.5
Apr 2022
1.25
Mar 2022
1.25
Mar 2021
15.21
Dec 2002
% Daily2002-2022
Malta
0
Apr 2022
0
Mar 2022
0
Apr 2022
4.75
Oct 2000
% N/A1998-2022
Moldova
15.5
May 2022
12.5
Apr 2022
2.65
Nov 2020
21
Jan 2001
% Daily2001-2022
Netherlands
0
Apr 2022
0
Mar 2022
0
Apr 2022
4.75
Oct 2000
% N/A1998-2022
Norway
0.75
May 2022
0.75
Apr 2022
0.25
Sep 2021
11
Sep 1992
% Daily1991-2022
Poland
5.25
May 2022
4.5
Apr 2022
0.1
May 2020
24
Feb 1998
% Monthly1998-2022
Portugal
0
Apr 2022
0
Mar 2022
0
Apr 2022
4.75
Oct 2000
% N/A1998-2022
Romania
3.75
May 2022
3
Apr 2022
1.25
Jan 2021
12.5
Apr 2005
% Daily2005-2022
Russian Federation
14
Apr 2022
17
Apr 2022
4.25
Jul 2020
20
Feb 2022
% Daily2003-2022
Serbia
2
May 2022
1.5
Apr 2022
1
Dec 2020
18
Sep 2006
% Daily2006-2022
Slovakia
0
Apr 2022
0
Mar 2022
0
Apr 2022
4.75
Oct 2000
% N/A1998-2022
Slovenia
0
Apr 2022
0
Mar 2022
0
Apr 2022
4.75
Oct 2000
% N/A1998-2022
Spain
0
Apr 2022
0
Mar 2022
0
Apr 2022
4.75
Oct 2000
% N/A1998-2022
Sweden
0.25
Apr 2022
0
Mar 2022
-0.5
Feb 2016
8.91
Jul 1995
% Daily1994-2022
Switzerland
-0.75
Mar 2022
-0.75
Feb 2022
-0.75
Jan 2015
3.5
Jun 2000
% Daily2000-2022
Turkey
14
Apr 2022
14
Mar 2022
4.5
May 2013
500
Mar 1994
% Daily1990-2022
Ukraine
10
Apr 2022
10
Mar 2022
6
Jun 2020
300
Oct 1994
% Daily1992-2022
United Kingdom
1
May 2022
0.75
Apr 2022
0.1
Mar 2020
17
Nov 1979
% Daily1971-2022

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