PWLB briefing

Morning Rate Update

· By , PWLBtoday

Headline

PWLB Rates Hold Steady with Minor Adjustments

Notice Date: 14 January 2026
Reset Time: 09:28 AM

Maturity Rates

  • 1y: 4.56% (-1bps)
  • 3y: 4.69% (-1bps)
  • 5y: 4.90% (0bps)
  • 10y: 5.46% (+1bps)
  • 25y: 6.09% (+2bps)
  • 50y: 5.87% (+3bps)

Overall, rates are little changed, with only minor fluctuations observed. The 10-year and 25-year rates saw slight increases, while the 1-year and 3-year rates dipped by 1 basis point.

Market Context

The yield curve appears to be flattening slightly, with short-term rates decreasing while longer-term rates are experiencing modest increases. Today's economic calendar includes the anticipated GBP Treasury Gilt 2035 Auction, which may influence market sentiment. In the news, BP has announced significant writedown charges in its energy transition business, which could impact investor confidence in energy stocks and related sectors. Additionally, ongoing geopolitical tensions and the uncertainty surrounding US monetary policy continue to create a cautious atmosphere in the markets. Overall, the market remains vigilant as it navigates these developments.

Calendar Events

TODAY’S RELEASES:

  • 10:00: GBP Treasury Gilt 2035 Auction - Low impact

REMAINING TODAY:

  • 15:30: GBP BoE Ramsden Speech - Low impact

THIS WEEK AHEAD:

  • Tomorrow, 15 January: RICS House Price Balance - 00:01 - Forecast: -0.16
  • Tomorrow, 15 January: Balance of Trade - 07:00 - Forecast: -3.50B
  • Tomorrow, 15 January: GDP MoM - 07:00 - Forecast: -0.1%
  • Tomorrow, 15 January: GDP 3-Month Avg - 07:00 - Forecast: -0.1%
  • Tomorrow, 15 January: GDP YoY - 07:00 - Forecast: 0.8%
  • Tomorrow, 15 January: Industrial Production MoM - 07:00 - Forecast: -0.00
  • Tomorrow, 15 January: Goods Trade Balance - 07:00 - Forecast: -19.80B
  • Tomorrow, 15 January: Industrial Production YoY - 07:00 - Forecast: -0.01
  • Tomorrow, 15 January: Construction Output - 07:00 - Forecast: 0.00
  • Tomorrow, 15 January: Manufacturing Production YoY - 07:00 - Forecast: -0.01

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!

All briefings for 14 January 2026 · January 2026 archive · All PWLB briefings