The Bank of England is expected to keep its benchmark interest rate and its bond-buying programme unchanged during its May 2021 meeting, but it could be one of the first central banks to signal tightening monetary policy as the country's economic recovery accelerates and inflation rises. The central bank is expected to raise 2021 GDP forecast sharply from its previous estimate of 5% growth, helped by the re-opening of the economy and the rapid pace of COVID-19 vaccinations. On Wednesday, investors were pricing in a 15 basis-point increase in interest rates by September 2022, while last month they were expecting a first rate hike only in 2023. source: Bank of England
Interest Rate in the United Kingdom averaged 7.29 percent from 1971 until 2021, reaching an all time high of 17 percent in November of 1979 and a record low of 0.10 percent in March of 2020. This page provides - United Kingdom Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. United Kingdom Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on May of 2021.
Interest Rate in the United Kingdom is expected to be 0.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in the United Kingdom to stand at 0.10 in 12 months time. In the long-term, the United Kingdom Interest Rate is projected to trend around 0.10 percent in 2022 and 0.50 percent in 2023, according to our econometric models.