Morning Rate Update

PWLB Interest Rate Update – 2026-03-03 09:35

PWLB fixed rates have risen significantly across all maturities following the latest update.

PWLB Snapshot

• 1y: 4.67% (+18bp)
• 3y: 4.76% (+19bp)
• 5y: 4.94% (+18bp)
• 10y: 5.47% (+14bp)
• 25y: 6.11% (+12bp)
• 50y: 5.92% (+11bp)

What Moved

• Significant increases across the curve, with the largest moves at the short and medium tenors (up to +19bp).
• Longer maturities also rose, though by a slightly smaller margin (+11 to +12bp).

Context

• BRC Shop Price Inflation (LOW impact): Actual 1.1% (Forecast: 1.7%, Previous: 1.5%) – below expectations.
• Market focus remains on geopolitical tensions in the Middle East, which have driven sharp increases in global energy prices and contributed to higher yields.
• UK Spring Economic Statement scheduled for later today, with markets attentive to any fiscal or economic guidance.

Watchlist (Next 24–48 Hours)

• Today: GBP Spring Economic Statement (MED impact), time TBC
• Tomorrow 09:30: GBP S&P Global Services PMI Final – Forecast: 53.9
• Tomorrow 09:30: GBP S&P Global Composite PMI Final – Forecast: 53.9

PWLB rates have moved sharply higher amid heightened geopolitical risks and energy market volatility. Please monitor official releases for further updates.

This commentary is provided for information only and is not financial advice. Please verify rates directly with PWLB or official sources before acting.