UK nominal gilt yield: 5 years
UK nominal gilt yield: 5 years stood at 4.6% 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 | |||||||||||
| 5 years | 4.6 | 4.56 | 4.27 | 4.3 | 4.47 | 4.41 | 3.72 | 3.97 | 3.94 | 3.88 | |
| 7 years | 4.81 | 4.77 | 4.49 | 4.52 | 4.7 | 4.62 | 3.98 | 4.25 | 4.2 | 4.15 |
Understanding UK nominal gilt yield: 5 years
Capturing the midpoint of the short-to-medium sector, this series reports the fitted nominal yield on United Kingdom government debt at a five-year maturity. It uses a mathematical spline or parametric model to transform disparate bond market observations into a singular, comparable spot rate, stripping out cash-flow irregularities. Unlike shorter maturities that track policy rates closely, this five-year benchmark absorbs a blend of medium-term growth expectations, inflation sentiment, and anticipated fiscal supply.
Analysts should examine consecutive monthly changes to identify turning points in market sentiment without the noise of daily trading volatility. Comparing this rate with the ten-year equivalent offers a standard gauge of yield curve steepness or inversion. Users must note that this series is a theoretical construct and does not represent any single tradable gilt.
Frequently asked questions
- Why is the five-year maturity widely monitored in financial markets?
- It serves as a key reference point for medium-term corporate borrowing and fixed-rate retail financial products.
- Does this series include index-linked gilts?
- No, this series is strictly derived from conventional nominal bonds; index-linked securities form a separate real yield curve.
- How do shifts in fiscal policy affect this metric?
- Announcements regarding government borrowing requirements can alter the supply dynamics priced into this segment of the curve.