PWLB briefing

Afternoon Rate Update

· By , PWLBtoday

Headline

PWLB Rates Shift Slightly, But Remain Steady Overall

Notice Details

PWLB Interest Rate Notice Number 012/26
Effective for transactions agreed after 12:11 on 09 January 2026

Maturity Rates

  • 1y: 4.56% (+1bps)
  • 3y: 4.70% (0bps)
  • 5y: 4.90% (0bps)
  • 10y: 5.47% (+1bps)
  • 25y: 6.09% (0bps)
  • 50y: 5.87% (0bps)

Today's rates reflect a slight increase in the 1-year and 10-year maturities, with both rising by 1 basis point. The rest of the rates held steady, indicating a quiet afternoon in the market.

Afternoon Context

No significant economic data releases have occurred since this morning, and the market remains largely unchanged. The ongoing discussions surrounding the potential merger between Rio Tinto and Glencore continue to draw attention, but no immediate market reactions have been noted. Overall, gilt yields are expected to remain stable as market participants await further developments.

Calendar Events

REMAINING TODAY:

  • No further significant economic releases today.

THIS WEEK AHEAD:

  • Tuesday 00:01: GBP BRC Retail Sales Monitor YoY - Forecast: 0.01
  • Tuesday 10:00: GBP Index-linked Treasury Gilt 2035 Auction
  • Wednesday 10:00: GBP Treasury Gilt 2035 Auction
  • Thursday 00:01: GBP RICS House Price Balance - Forecast: -0.16
  • Thursday 07:00: GBP Balance of Trade - Forecast: -3.50B
  • Thursday 07:00: GBP GDP MoM - Forecast: -0.1%
  • Thursday 07:00: GBP GDP 3-Month Avg - Forecast: -0.1%
  • Thursday 07:00: GBP GDP YoY - Forecast: 0.8%
  • Thursday 07:00: GBP Industrial Production MoM - Forecast: 0.01
  • Thursday 07:00: GBP Goods Trade Balance - Forecast: -19.80B

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 predictable as the British weather—always a bit of a surprise!

All briefings for 9 January 2026 · January 2026 archive · All PWLB briefings