UK government bond yields — gilts
Yields on UK government bonds (gilts) at five, ten and twenty year maturities, derived daily by the Bank of England from the government liability curve — nominal par and zero-coupon yields, the spreads between them, and the real yields on index-linked gilts.
| Indicator | 23-09-2026 | 22-09-2026 | 21-09-2026 | 18-09-2026 | 17-09-2026 | 16-09-2026 | 15-09-2026 | 14-09-2026 | 11-09-2026 | 10-09-2026 | 09-09-2026 | 08-09-2026 | 07-09-2026 | 04-09-2026 | 03-09-2026 | 02-09-2026 | 01-09-2026 | 28-08-2026 | 27-08-2026 | 26-08-2026 | 25-08-2026 | 24-08-2026 | 21-08-2026 | 20-08-2026 | 19-08-2026 | 18-08-2026 | 17-08-2026 | 14-08-2026 | 13-08-2026 | 12-08-2026 | 11-08-2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Nominal par yields3 | ||||||||||||||||||||||||||||||||
| 5-year nominal par yield | 4.88 | 4.78 | 4.77 | 4.88 | 4.76 | 4.81 | 4.93 | 4.94 | 4.86 | 4.89 | 4.74 | 4.64 | 4.64 | 4.61 | 4.61 | 4.7 | 4.66 | 4.59 | 4.55 | 4.53 | 4.51 | 4.57 | 4.56 | 4.56 | 4.55 | 4.57 | 4.56 | 4.52 | 4.47 | 4.48 | 4.47 | |
| 10-year nominal par yield | 5.29 | 5.19 | 5.16 | 5.26 | 5.17 | 5.24 | 5.36 | 5.37 | 5.3 | 5.32 | 5.19 | 5.1 | 5.11 | 5.07 | 5.08 | 5.17 | 5.13 | 5.06 | 5.03 | 5.01 | 5 | 5.05 | 5.05 | 5.05 | 5.04 | 5.07 | 5.04 | 5.01 | 4.94 | 4.96 | 4.95 | |
| 20-year nominal par yield | 5.63 | 5.54 | 5.5 | 5.57 | 5.55 | 5.65 | 5.74 | 5.73 | 5.72 | 5.72 | 5.65 | 5.57 | 5.59 | 5.56 | 5.57 | 5.65 | 5.61 | 5.55 | 5.53 | 5.52 | 5.5 | 5.56 | 5.56 | 5.56 | 5.55 | 5.58 | 5.56 | 5.52 | 5.46 | 5.47 | 5.46 | |
| Nominal zero-coupon yields3 | ||||||||||||||||||||||||||||||||
| 5-year nominal zero-coupon yield | 4.9 | 4.79 | 4.78 | 4.88 | 4.77 | 4.82 | 4.95 | 4.96 | 4.88 | 4.91 | 4.75 | 4.65 | 4.65 | 4.62 | 4.62 | 4.71 | 4.67 | 4.6 | 4.55 | 4.53 | 4.52 | 4.57 | 4.56 | 4.57 | 4.56 | 4.58 | 4.56 | 4.53 | 4.47 | 4.49 | 4.47 | |
| 10-year nominal zero-coupon yield | 5.31 | 5.21 | 5.19 | 5.29 | 5.21 | 5.29 | 5.39 | 5.39 | 5.35 | 5.36 | 5.25 | 5.16 | 5.18 | 5.14 | 5.16 | 5.24 | 5.21 | 5.14 | 5.11 | 5.09 | 5.08 | 5.13 | 5.13 | 5.13 | 5.12 | 5.15 | 5.13 | 5.09 | 5.03 | 5.04 | 5.03 | |
| 20-year nominal zero-coupon yield | 5.85 | 5.77 | 5.74 | 5.79 | 5.77 | 5.9 | 5.97 | 5.96 | 5.96 | 5.97 | 5.91 | 5.84 | 5.86 | 5.82 | 5.84 | 5.92 | 5.88 | 5.82 | 5.8 | 5.79 | 5.78 | 5.83 | 5.84 | 5.83 | 5.83 | 5.87 | 5.84 | 5.8 | 5.74 | 5.75 | 5.73 | |
| Yield curve spreads2 | ||||||||||||||||||||||||||||||||
| 10-year minus 5-year spread | 0.41 | 0.41 | 0.39 | 0.37 | 0.41 | 0.44 | 0.43 | 0.43 | 0.44 | 0.42 | 0.46 | 0.46 | 0.47 | 0.47 | 0.48 | 0.47 | 0.47 | 0.47 | 0.48 | 0.48 | 0.48 | 0.48 | 0.49 | 0.49 | 0.49 | 0.49 | 0.49 | 0.49 | 0.48 | 0.48 | 0.48 | |
| 20-year minus 10-year spread | 0.34 | 0.35 | 0.34 | 0.31 | 0.38 | 0.41 | 0.38 | 0.36 | 0.42 | 0.4 | 0.46 | 0.48 | 0.48 | 0.48 | 0.49 | 0.48 | 0.48 | 0.49 | 0.5 | 0.51 | 0.51 | 0.5 | 0.51 | 0.51 | 0.51 | 0.51 | 0.52 | 0.51 | 0.52 | 0.51 | 0.51 | |
| Real yields3 | ||||||||||||||||||||||||||||||||
| 5-year real yield | 3.71 | 3.66 | 3.69 | 3.76 | 3.71 | 3.71 | 3.7 | 3.73 | 3.69 | 3.72 | 3.66 | 3.62 | 3.63 | 3.59 | 3.62 | 3.64 | 3.6 | 3.55 | 3.51 | 3.47 | 3.49 | 3.54 | 3.53 | 3.55 | 3.56 | 3.57 | 3.52 | 3.48 | 3.44 | 3.44 | 3.41 | |
| 10-year real yield | 3.4 | 3.37 | 3.39 | 3.44 | 3.41 | 3.4 | 3.4 | 3.4 | 3.39 | 3.4 | 3.36 | 3.34 | 3.35 | 3.32 | 3.34 | 3.36 | 3.33 | 3.3 | 3.28 | 3.25 | 3.25 | 3.28 | 3.27 | 3.28 | 3.28 | 3.3 | 3.27 | 3.25 | 3.22 | 3.22 | 3.2 | |
| 20-year real yield | 3.42 | 3.4 | 3.41 | 3.43 | 3.43 | 3.43 | 3.42 | 3.42 | 3.42 | 3.41 | 3.4 | 3.39 | 3.39 | 3.37 | 3.37 | 3.38 | 3.37 | 3.35 | 3.33 | 3.33 | 3.33 | 3.34 | 3.34 | 3.33 | 3.34 | 3.35 | 3.34 | 3.33 | 3.31 | 3.31 | 3.3 |
Latest reading
10-year nominal par yield stood at 5.29% in Sep 23, 2026. That is +0.1 pp from Sep 22, 2026 and +0.6 pp from a year earlier. The series on this page is daily and runs from Jan 4, 1982 to Sep 23, 2026. Source: Bank of England.
- Latest
- 5.29%
- Sep 23, 2026
- vs previous period
- +0.1 pp
- Sep 22, 2026
- vs a year earlier
- +0.6 pp
Look up any date
Pick a date between Jan 4, 1982 and Sep 23, 2026 to see every series in this table on that day. If there is no reading that day (weekend, holiday, or a weekly release), the last reading before it is shown.
About this data
Yields on UK government bonds (gilts) at five, ten and twenty year maturities, derived daily by the Bank of England from the government liability curve — nominal par and zero-coupon yields, the spreads between them, and the real yields on index-linked gilts. The ten year yield is the standard benchmark for UK long-term borrowing costs; the gap against the real yield is what the market expects inflation to be.
Frequently asked questions
- What do the UK government bond yield series measure?
- The series measure daily benchmark yields on UK government bonds (gilts) at 5-year, 10-year and 20-year maturities, derived from the Bank of England government liability curve.
- What is the difference between nominal par and real gilt yields?
- Nominal par yields reflect the coupon rate at which a gilt trades at par value, whereas real yields are derived from index-linked gilts and reflect returns after accounting for inflation expectations.
- How often are UK gilt yields updated and how far back do they go?
- The Bank of England publishes these gilt yields on a daily basis, with continuous historical coverage available since 1982.
- Which yield curve spreads are included in this table?
- The table provides key slope indicators for the UK gilt curve, specifically the 10-year minus 5-year yield spread and the 20-year minus 10-year yield spread.
