The Bank of England is the central bank of the United Kingdom. It acts as the government's bank and the lender of last resort. It issues currency and, most importantly, it oversees monetary policy.

Last Updated: Feb 2 2023, 07:03 EST Next Release: Mar 23 2023, 08:00 EDT

Bank Rate determines the interest rate the Bank of England pays to commercial banks that hold money with the Bank of England. It influences the rates those banks charge people to borrow money or pay on their savings.

Major Bank of England Bank Rate Indicators

Indicator Period Value % CHG PREV
Bank of England Bank Rate Feb 02 2023 4.00% 14.29%
Last Updated: Feb 6 2023, 04:45 EST Next Release: Feb 8 2023, 04:00 EST

SONIA (Sterling Overnight Index Average) is an important interest rate benchmark. SONIA is based on actual transactions and reflects the average of the interest rates that banks pay to borrow sterling overnight from other financial institutions and other institutional investors.

Major Sterling Overnight Index Average (SONIA) Indicators

Indicator Period Value % CHG PREV
Sterling Overnight Index Average (SONIA) Feb 03 2023 3.93% 0.02%