UK official Bank Rate
UK official Bank Rate stood at 3.75% on Oct 16, 2026, according to Bank of England. It is one of the indicators in the Bank Rate and sterling table (Value · Daily), with a complete series running from Jan 2, 1975 to Oct 16, 2026. The complete series with an interactive chart, free to download.
This indicator in the Bank Rate and sterling table
| Indicator | 16-10-2026 | 15-10-2026 | 14-10-2026 | 13-10-2026 | 12-10-2026 | 09-10-2026 | 08-10-2026 | 07-10-2026 | 06-10-2026 | 05-10-2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Policy and overnight interest rates | |||||||||||
| Official Bank Rate | 3.75 | 3.75 | 3.75 | 3.75 | 3.75 | 3.75 | 3.75 | 3.75 | 3.75 | 3.75 | |
| SONIA overnight rate | 3.73 | 3.73 | 3.73 | 3.73 | 3.73 | 3.73 | 3.73 | 3.73 | 3.73 |
Understanding UK official Bank Rate
Monetary policy decisions across the United Kingdom crystallise at this central benchmark, setting the baseline remuneration that commercial financial institutions receive on overnight deposits held at the central monetary authority. Unlike market-determined interbank pricing, this figure emerges directly from formal committee votes and takes immediate effect on the business day following announcement, remaining constant until subsequent policy adjustments occur. Excluded from this measure are variable wholesale lending terms, retail mortgage pricing, and private debt contracts, which merely reference the benchmark rather than constituting its determination.
Interpreting daily movements requires tracking official policy announcements rather than intraday market fluctuations, as the series stays flat between scheduled meetings unless emergency interventions happen. Comparing this rate directly against overnight market averages reveals the liquidity spread that commercial lenders demand for uncollateralized transactions. Analysts evaluating monetary transmission should avoid treating this administrative figure as equivalent to actual market borrowing costs, because private financing terms incorporate credit risk premiums and liquidity buffers that fluctuate independently of the official stance.
Frequently asked questions
- What event triggers a change in the official Bank Rate?
- A formal monetary policy committee decision alters the rate, which then takes effect on the subsequent working day.
- Does this series fluctuate continuously throughout the working day?
- No, the rate remains entirely static between scheduled or emergency policy announcements.
- How does this benchmark differ from interbank lending rates?
- It represents the official central deposit remuneration rather than the commercial unsecured market transactions captured by daily reference rates.