PWLB briefing
Morning Rate Update
Headline
PWLB Rates Take a Gentle Dip: A Calm Before the Storm?
Notice Details
PWLB Interest Rate Notice Number 497/25
Reset Time: 09:16 on 23 December 2025
Maturity Rates
- 1y: 4.64% (-1bps)
- 3y: 4.79% (-1bps)
- 5y: 4.99% (-2bps)
- 10y: 5.56% (-3bps)
- 25y: 6.18% (-3bps)
- 50y: 5.94% (-4bps)
Rates have generally eased slightly, with the 50-year rate seeing a notable drop of 4 basis points, which is the largest movement today. It seems the long-term borrowing costs are becoming a tad more attractive.
Market Context
The yield curve remains relatively flat, with minor reductions across most maturities. Today's economic calendar is quiet, with no significant GBP releases reported so far. However, the market is reacting to broader themes, including the ongoing geopolitical tensions that have recently driven gold prices to record highs. Additionally, the sentiment around potential future interest rate cuts in the US is influencing global markets, including UK gilts. The lack of major economic data today suggests a cautious atmosphere as investors await clearer signals from upcoming releases.
Calendar Events
TODAY’S RELEASES:
- No significant economic releases scheduled.
REMAINING TODAY:
- No significant economic releases scheduled.
THIS WEEK AHEAD:
- No significant economic releases scheduled.
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, keep your treasury operations as smooth as a well-oiled machine!