UK nominal gilt yield: 15 years
UK nominal gilt yield: 15 years stood at 5.58% in Aug 2026, according to Bank of England — statistical and research datasets. It is one of the indicators in the Yield curves table (Value · Monthly), with a complete series running from Jan 1970 to Aug 2026. The complete series with an interactive chart, free to download.
This indicator in the Yield curves table
| Indicator | 08-2026 | 07-2026 | 06-2026 | 05-2026 | 04-2026 | 03-2026 | 02-2026 | 01-2026 | 12-2025 | 11-2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Nominal gilt yield | |||||||||||
| 15 years | 5.58 | 5.55 | 5.27 | 5.3 | 5.5 | 5.36 | 4.81 | 5.08 | 5.02 | 4.99 | |
| 20 years | 5.82 | 5.8 | 5.52 | 5.55 | 5.73 | 5.57 | 5.07 | 5.32 | 5.24 | 5.23 |
Understanding UK nominal gilt yield: 15 years
This series calculates the fitted nominal redemption yield for conventional United Kingdom government securities at a fifteen-year maturity. It applies a mathematical smoothing function to market prices across the long-end spectrum, eliminating anomalies caused by specific coupon structures or scarcity effects. Compared to ten-year benchmarks, this fifteen-year measure captures the deeper liability horizons of pension funds and life insurers, reflecting longer-term structural commitments.
Analyst assessments should rely on sequential monthly comparisons to capture structural shifts in the long-end debt market accurately. Because the underlying curve model relies on interpolation across sparse long-term issuance, revisions can occasionally adjust historical levels. Users must ensure they do not confuse this fitted rate with the yield of any individual long-dated gilt.
Frequently asked questions
- Who are the primary institutional buyers driving demand at this maturity?
- Pension funds and insurance companies seeking to match long-term liabilities are the predominant participants in this sector.
- Why might this yield diverge from the ten-year rate?
- Changes in institutional demand or term premia can cause the slope between ten and fifteen years to shift independently of policy rates.
- Are there any credit risk considerations in this metric?
- As sovereign debt of the United Kingdom, credit risk is considered negligible, so pricing is driven entirely by market and economic factors.