Afternoon Rate Update

Hello again! Here’s your afternoon update on the latest PWLB rates and market movements.

Headline

PWLB Rates Slip Further: A Gentle Slide into the Afternoon

Notice Details

PWLB Interest Rate Notice Number 498/25
Reset Time: 12:30 on 23 December 2025

Maturity Rates

• 1y: 4.62% (-2bps)
• 3y: 4.77% (-2bps)
• 5y: 4.98% (-1bps)
• 10y: 5.54% (-2bps)
• 25y: 6.16% (-2bps)
• 50y: 5.92% (-2bps)

The 1-year rate has seen a notable drop of 2 basis points, while the 3-year and 10-year rates also decreased by 2 basis points. Overall, the rates continue to trend downwards, reflecting a quiet afternoon in the market.

Afternoon Context

Since this morning, there have been no significant economic data releases. The market remains stable, with no major news developments impacting UK gilt yields. Investors are likely adopting a cautious stance as they await further signals from upcoming economic indicators. The overall sentiment appears to be one of restraint, with the absence of volatility in the PWLB rates suggesting a calm before potential future movements.

Calendar Events

RELEASES SO FAR TODAY:

• No significant economic releases reported.

REMAINING TODAY:

• No significant economic releases scheduled.

THIS WEEK AHEAD:

• No additional releases scheduled in the next seven days.

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-tuned engine!