Morning Rate Update

Headline

PWLB Rates Take a Gentle Dip: A Calm Day in the Treasury Waters

Notice Details

PWLB Interest Rate Notice Number 061/26, AM reset at 09:29 on 13 February 2026.

Maturity Rates

• 1y: 4.50% (-2bps)
• 3y: 4.68% (-2bps)
• 5y: 4.92% (-2bps)
• 10y: 5.52% (-2bps)
• 25y: 6.18% (-2bps)
• 50y: 6.00% (-1bps)

Rates across the board have dipped slightly, with the 1-year, 3-year, 5-year, and 10-year maturities all down by 2 basis points. A minor adjustment, but nothing to lose sleep over!

Market Context

The yield curve remains relatively stable, with slight downward movements across shorter maturities. Today, the economic calendar is quiet, with no significant GBP releases reported so far. However, the upcoming week holds potential with several key indicators scheduled for release. In the news, the Bank of England is reportedly considering external assistance for stress testing in private markets, which may influence future monetary policy. Additionally, concerns over public finances are rising, particularly regarding the £6 billion annual costs associated with special educational needs. These factors could subtly shape market sentiment, although today’s rate movements appear largely unaffected.

Calendar Events

TODAY’S RELEASES:

• No significant economic releases scheduled.

REMAINING TODAY:

• No significant economic releases scheduled.

THIS WEEK AHEAD:

• Tuesday 07:00: Unemployment Rate - Forecast: 5.1%
• Tuesday 07:00: Average Earnings excl. Bonus - Forecast: 4.4%
• Tuesday 07:00: 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.

Until next time, keep your treasury operations smooth and your rates low!