Afternoon Rate Update

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

Headline

PWLB Rates Hold Steady: A Calm Afternoon in the Market

Notice Details

Today's PWLB Interest Rate Notice is number 038/26, reset at 12:21 on January 28, 2026.

Maturity Rates

• 1y: 4.60% (0)
• 3y: 4.80% (+1)
• 5y: 5.03% (+1)
• 10y: 5.59% (0)
• 25y: 6.21% (0)
• 50y: 6.00% (0)

The 3-year and 5-year rates have increased by 1 basis point each, while the rest remain unchanged. Overall, a rather uneventful afternoon.

Afternoon Context

Since the morning update, there have been no significant economic data releases. The market continues to digest the earlier news regarding the euro's strength against the dollar, which remains a topic of interest for investors. The lack of movement in PWLB rates suggests a stable sentiment among treasury officers, with no immediate pressures influencing gilt yields.

Calendar Events

REMAINING TODAY:

• No further significant economic releases today.

THIS WEEK AHEAD:

• Tomorrow, January 29: GBP Car Production YoY - Forecast: 0.07
• Friday, January 30: GBP Nationwide Housing Prices MoM - Forecast: 0.6%
• Friday, January 30: GBP Nationwide Housing Prices YoY - Forecast: 1.5%
• Friday, January 30: GBP Mortgage Lending - Forecast: 4.60B
• Friday, January 30: GBP Net Lending to Individuals MoM - Forecast: 4.20B
• Friday, January 30: GBP Mortgage Approvals - Forecast: 64.40k
• Friday, January 30: GBP BoE Consumer Credit - Forecast: 1.90B
• Monday, February 2: GBP S&P Global Manufacturing PMI Final - Forecast: 51.6
• Tuesday, February 3: GBP Treasury Gilt 2035 Auction

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!