Afternoon Rate Update

Headline

PWLB Rates: A Subtle Shift in the Afternoon Breeze

Notice Details

PWLB Interest Rate Notice Number 014/26
Effective for transactions agreed after 12:32 on 12 January 2026.

Maturity Rates

• 1y: 4.56% (+1bps)
• 3y: 4.69% (+1bps)
• 5y: 4.89% (+1bps)
• 10y: 5.45% (+1bps)
• 25y: 6.07% (+1bps)
• 50y: 5.85% (+1bps)

Rates have seen a slight uptick of 1 basis point across all maturities, indicating a gentle shift rather than a dramatic upheaval.

Afternoon Context

Since this morning, there have been no significant economic data releases to report. However, news surrounding the Federal Reserve's ongoing legal issues continues to create ripples in the market, with concerns over the independence of the Fed weighing on investor sentiment. The geopolitical situation, particularly the protests in Iran, remains a focal point, but oil prices have shown resilience despite the turmoil. Overall, these factors contribute to a cautious atmosphere in the gilt markets, with little movement in yields.

Calendar Events

THIS WEEK AHEAD:

• Tomorrow: GBP BRC Retail Sales Monitor YoY - 00:01 - Forecast: 0.01
• Tomorrow: GBP Index-linked Treasury Gilt 2035 Auction - 10:00
• Wednesday: GBP BoE Taylor Speech - Low impact
• Wednesday: GBP Treasury Gilt 2035 Auction - Low impact
• Thursday: GBP RICS House Price Balance - 00:01 - Forecast: -0.16
• Thursday: GBP Balance of Trade - 07:00 - Forecast: -3.50B
• Thursday: GBP GDP MoM - 07:00 - Forecast: -0.1%
• Thursday: GBP GDP 3-Month Avg - 07:00 - Forecast: -0.1%
• Thursday: GBP GDP YoY - 07:00 - Forecast: 0.8%

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 rates be ever in your favour!