366:
160:
165:
361:
43:
126:. On 15 December 2021, the Monetary Policy Committee voted 8-1 to increase the bank rate to 0.25%, and subsequently increased it thirteen more times to 5.25% on 02 August 2023. As of 21 August 2024 the bank rate sits at 5%.
134:
The official bank rate has existed in various forms since 1694 and has ranged from 0.1% to 17%. The name and meaning (depositing vs lending) of this key interest rate has changed over the years. The current name,
121:
On 2 August 2018 the Bank of
England base rate was increased to 0.75%, but then cut to 0.25% on 11 March 2020, and shortly thereafter to an all-time low of 0.1% on 19 March, as emergency measures during the
260:
60:
111:
411:
90:
charges banks and financial institutions for loans with a maturity of 1 day. It is the Bank of
England's key interest rate for enacting
337:
159:
115:
164:
430:
308:
282:
435:
404:
55:
440:
107:
144:
445:
397:
99:
181:
123:
381:
261:"Monetary Policy Summary for the special Monetary Policy Committee meeting on 19 March 2020"
95:
91:
87:
17:
206:
365:
220:
424:
102:. The security for the lending can be any of a list of eligible securities (commonly
30:
This article is about the specific rate in the United
Kingdom. For other uses, see
360:
238:
377:
186:
176:
31:
147:) in use since 1997. Previously (between 1981 and 1997) the name was
103:
373:
36:
221:"Interest & Exchange Rates | Official Bank Rate History"
52:
needs attention from an expert in
Finance & Investment
385:
227:. Bank of England Statistical Interactive Database.
139:, was introduced in 2006 and replaced the previous
338:"Further details about wholesale - baserate data"
405:
8:
412:
398:
239:"UK interest rates cut in emergency move"
198:
63:may be able to help recruit an expert.
332:
330:
106:) and the transactions are overnight
7:
357:
355:
61:WikiProject Finance & Investment
27:Bank of England rate for 1-day loans
384:. You can help Knowledge (XXG) by
94:. It is more analogous to the US
25:
110:. Changes are recommended by the
364:
359:
263:. Bank of England. 19 March 2020
163:
158:
41:
309:"Interest rates and Bank Rate"
283:"Interest rates and Bank Rate"
1:
207:"How Monetary Policy Works"
149:Minimum Band 1 Dealing Rate
82:In the United Kingdom, the
462:
354:
29:
241:. BBC News. 11 March 2020
112:Monetary Policy Committee
18:Bank of England Base Rate
313:www.bankofengland.co.uk
287:www.bankofengland.co.uk
380:-related article is a
151:and prior to that the
108:repurchase agreements
86:is the rate that the
153:Minimum Lending Rate
145:repurchase agreement
225:BankOfEngland.co.uk
143:(repo is short for
114:and enacted by the
137:Official Bank Rate
100:federal funds rate
84:official bank rate
393:
392:
182:Implied repo rate
124:COVID-19 pandemic
78:
77:
16:(Redirected from
453:
414:
407:
400:
368:
363:
356:
346:
345:
334:
325:
324:
322:
320:
305:
299:
298:
296:
294:
279:
273:
272:
270:
268:
257:
251:
250:
248:
246:
235:
229:
228:
217:
211:
210:
203:
167:
162:
73:
70:
64:
45:
44:
37:
21:
461:
460:
456:
455:
454:
452:
451:
450:
431:Bank of England
421:
420:
419:
418:
352:
350:
349:
342:Bank of England
336:
335:
328:
318:
316:
315:. 1 August 2024
307:
306:
302:
292:
290:
289:. 1 August 2024
281:
280:
276:
266:
264:
259:
258:
254:
244:
242:
237:
236:
232:
219:
218:
214:
205:
204:
200:
195:
173:
132:
92:monetary policy
88:Bank of England
74:
68:
65:
59:
46:
42:
35:
28:
23:
22:
15:
12:
11:
5:
459:
457:
449:
448:
443:
438:
436:Interest rates
433:
423:
422:
417:
416:
409:
402:
394:
391:
390:
369:
348:
347:
326:
300:
274:
252:
230:
212:
197:
196:
194:
191:
190:
189:
184:
179:
172:
169:
131:
128:
76:
75:
49:
47:
40:
26:
24:
14:
13:
10:
9:
6:
4:
3:
2:
458:
447:
444:
442:
441:Banking terms
439:
437:
434:
432:
429:
428:
426:
415:
410:
408:
403:
401:
396:
395:
389:
387:
383:
379:
375:
370:
367:
362:
358:
353:
343:
339:
333:
331:
327:
314:
310:
304:
301:
288:
284:
278:
275:
262:
256:
253:
240:
234:
231:
226:
222:
216:
213:
208:
202:
199:
192:
188:
185:
183:
180:
178:
175:
174:
170:
168:
166:
161:
156:
154:
150:
146:
142:
138:
129:
127:
125:
119:
117:
113:
109:
105:
101:
97:
96:discount rate
93:
89:
85:
80:
72:
62:
57:
53:
50:This article
48:
39:
38:
33:
19:
386:expanding it
371:
351:
341:
317:. Retrieved
312:
303:
291:. Retrieved
286:
277:
265:. Retrieved
255:
243:. Retrieved
233:
224:
215:
201:
157:
152:
148:
140:
136:
133:
120:
98:than to the
83:
81:
79:
66:
58:for details.
51:
54:. See the
446:Bank stubs
425:Categories
193:References
378:insurance
319:21 August
293:21 August
187:Repo rate
177:Bank rate
141:Repo Rate
69:July 2022
56:talk page
32:Bank rate
267:19 March
245:13 March
171:See also
116:Governor
130:History
372:This
104:gilts
382:stub
376:and
374:bank
321:2024
295:2024
269:2020
247:2020
427::
340:.
329:^
311:.
285:.
223:.
155:.
118:.
413:e
406:t
399:v
388:.
344:.
323:.
297:.
271:.
249:.
209:.
71:)
67:(
34:.
20:)
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.