Afternoon Rate Update

Headline

PWLB Rates Take a Dip, Leaving Borrowers with a Slightly Brighter Outlook

Notice Details

PWLB Interest Rate Notice Number 060/26, effective from 12:30 on 12 February 2026.

Maturity Rates

• 1y: 4.52% (-1)
• 3y: 4.70% (0)
• 5y: 4.94% (0)
• 10y: 5.54% (-1)
• 25y: 6.20% (-1)
• 50y: 6.01% (-2)

Afternoon Context

This afternoon saw a slight decline in PWLB rates, with the 1-year, 10-year, 25-year, and 50-year rates all decreasing by 1 to 2 basis points. Notably, the 1-year rate has dropped to 4.52%, which may provide a marginally better borrowing cost for short-term loans. In economic news, the UK GDP growth rate for the fourth quarter was confirmed at 0.1%, aligning with forecasts but indicating sluggish growth. The balance of trade also improved, coming in at -4.34 billion, better than the expected -6 billion. Overall, these developments suggest a cautious optimism in the market, but geopolitical tensions and central bank policies continue to loom large.

Calendar Events

• No further significant economic releases today.

This Week Ahead

• Tuesday 07:00: GBP Average Earnings excl. Bonus - Forecast: 4.4%
• Tuesday 07:00: GBP Unemployment Rate - Forecast: 5.1%
• Tuesday 07:00: GBP Claimant Count Change - Forecast: 22k

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.

Keep your treasury strategies sharp and your rates sharper!