Overnight Interbank Average Rate in the United Kingdom remained unchanged at 3.73 percent on Friday May 1. Overnight Interbank Average Rate in the United Kingdom averaged 2.81 percent from 1997 until 2026, reaching an all time high of 8.56 percent in October of 1998 and a record low of 0.04 percent in December of 2020. source: Bank of England

Related	Last	Previous	Unit	Reference
Bank Lending Rate	9.07	8.97	percent	Feb 2026
Banks Balance Sheet	4841836.00	4772286.00	GBP Million	Mar 2026
Central Bank Balance Sheet	768677.00	791855.00	GBP Million	Apr 2026
Deposit Interest Rate	3.50	3.50	percent	Apr 2026
Foreign Exchange Reserves	230292.00	236666.00	USD Million	Mar 2026
BoE Interest Rate	3.75	3.75	percent	Apr 2026
Interest rate on new mortgages	4.03	4.10	percent	Mar 2026
Interest Rate on Outstanding Mortgages	3.93	3.95	percent	Mar 2026
Lending Rate	4.00	4.00	percent	Apr 2026
Loans to Private Sector	2874192.00	2828311.00	GBP Million	Dec 2025
Money Supply M0	104316.00	103843.00	GBP Million	Mar 2026
Money Supply M1	2300713.00	2281997.00	GBP Million	Mar 2026
Money Supply M2	3199976.00	3198023.00	GBP Million	Mar 2026
Money Supply M3	3778597.00	3757011.00	GBP Million	Mar 2026
M4 Money Supply MoM	3270082.00	3244070.00	GBP Million	Mar 2026
Overnight Interbank Average Rate	3.73	3.73	percent	May 2026

United Kingdom Sterling Overnight Average Rate SONIA

SONIA (Sterling Overnight Interbank Average Rate) 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. Financial businesses and institutions use SONIA in a variety of ways. For example, to calculate the interest paid on swap transactions and sterling floating rate notes . SONIA is used to value around £30 trillion of assets each year. SONIA is the Working Group on Sterling Risk Free Reference Rates’ preferred benchmark for the transition to sterling risk-free rates from Libor.