Afternoon Rate Update

Good afternoon! Here’s your Local Authority Treasury update following the latest PWLB rates and market movements.

Headline

PWLB Rates Hold Steady: A Quiet Afternoon in the Markets

Notice Details

Today's PWLB Interest Rate Notice is number 482/25, with rates reset at 12:30 on 11 December 2025.

Maturity Rates

• 1y: 4.66% (0)
• 2y: 4.71% (0)
• 3y: 4.79% (0)
• 5y: 4.98% (-1)
• 10y: 5.53% (-1)
• 25y: 6.14% (-1)
• 50y: 5.90% (-1)

Rates have remained largely unchanged, with only minor adjustments of 1 basis point for the 5, 10, 25, and 50-year maturities. It seems PWLB rates are taking a well-deserved break.

Afternoon Context

Since this morning, there have been no significant economic data releases, and the market remains relatively calm. The GBP RICS House Price Balance reported an actual of -0.16, slightly better than the forecast of -0.20, but this has not triggered any notable market reactions. In the news, the Federal Reserve's recent rate cut continues to influence sentiment, but UK stocks are showing mixed responses. Overall, gilt yields are stable, reflecting the quiet afternoon in the PWLB rates.

Calendar Events

RELEASES SO FAR TODAY:

• GBP RICS House Price Balance - Actual: -0.16, Forecast: -0.20, Previous: -0.19

REMAINING TODAY:

• No further significant economic releases today.

TOMORROW:

• Tomorrow, 07:00: GBP Industrial Production MoM - Forecast: 0.01
• Tomorrow, 07:00: GBP Manufacturing Production MoM - Forecast: 0.01
• Tomorrow, 07:00: GBP GDP MoM - Forecast: 0.000
• Tomorrow, 07:00: GBP GDP YoY - Forecast: 0.9%

This commentary is provided for informational purposes only and should not be construed as financial advice. Market conditions can change rapidly, and you should always verify current rates directly with the PWLB or through official channels before making borrowing decisions. Past performance is not indicative of future results.

Until next time, may your treasury operations be as smooth as a well-oiled machine!