Bank of England Official Base Rate (United Kingdom) - Historical Data
Historical time series of the Bank of England Official Base Rate set by the Bank of England (BOE) from 1946 to 2026. From 3 Aug 2006 onwards: official bank rate; from 6 May 1997 to 2 Aug 2006: repo rate; from 20 Aug 1981 to 5 May 1997: minimum Bank of England Band 1 dealing rate; from 16 Oct 1972 to 19 Aug 1981: minimum lending rate; from 1 Jan 1946 to 15 Oct 1972: bank rate. The latest benchmark reading is 3.75% (Sep 2026), corresponding to an ex-post real policy rate of +0.66% after adjusting for United Kingdom headline CPI inflation (3.09%).
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Current Statistics & Historical Records
Latest Reading (Sep 2026)
3.75%
Prev (Aug 2026): 3.75%0.00 pp
Highest Recorded (Nov 1979)
17.00%
Peak monetary tightening by Bank of England (Bank of England Official Base Rate).
Lowest Recorded (Mar 2020)
0.10%
Lowest policy interest rate stance set by Bank of England.
Long-Run Mean (1946–2026)
5.85%
81 annual observations · Monthly
Bank of England · GBP
Bank of England Official Base Rate (United Kingdom) (1946-2026)
% p.a.Drag to pan, scroll to zoom, or toggle between full archive (1946–2026) and recent monthly observations.
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Source: Bank for International Settlements (BIS) & Bank of England (WS_CBPOL:M:GB)
Latest: 3.75% (Sep 2026)
· Real Rate: +0.66%
BOE Policy Rate Averages by Decade
Decadal mean, peak, and trough across the 1946–2026 archive
| Decade | Years Covered | Decade Mean | Decade High (Year) | Decade Low (Year) |
|---|---|---|---|---|
| 1940s | 1946–1949 | 2.00% | 2.00% (1946) | 2.00% (1946) |
| 1950s | 1950–1959 | 4.00% | 7.00% (1957) | 2.00% (1950) |
| 1960s | 1960–1969 | 6.25% | 8.00% (1967) | 4.00% (1963) |
| 1970s | 1970–1979 | 10.75% | 17.00% (1979) | 5.00% (1971) |
| 1980s | 1980–1989 | 11.53% | 14.88% (1989) | 8.38% (1987) |
| 1990s | 1990–1999 | 7.40% | 13.88% (1990) | 5.38% (1993) |
| 2000s | 2000–2009 | 4.00% | 6.00% (2000) | 0.50% (2009) |
| 2010s | 2010–2019 | 0.53% | 0.75% (2018) | 0.25% (2016) |
| 2020s | 2020–2026 | 3.05% | 5.25% (2023) | 0.10% (2020) |
Complete Annual Historical Ledger (1946–2026)
Unit: % p.a. · Source: Bank for International Settlements (BIS) & Bank of England (WS_CBPOL:M:GB)
| Year | Annual Value (% p.a.) | Real Policy Rate (CPI-Adj) | Intra-Year Range (Min – Max) | Monetary Regime & Historical Context |
|---|---|---|---|---|
| 2026 | 3.75% | +0.81% | 3.75% – 3.75% | - |
| 2025 | 3.75% | +0.38% | 3.75% – 4.75% | Post-tightening monetary recalibration across advanced and emerging central banks |
| 2024 | 4.75% | +2.20% | 4.75% – 5.25% | G10 policy rates peak and pivot toward gradual monetary normalization |
| 2023 | 5.25% | -2.12% | 3.50% – 5.25% | - |
| 2022 | 3.50% | -5.53% | 0.25% – 3.50% | Global inflation surge triggers fastest synchronized rate hiking cycle in four decades |
| 2021 | 0.25% | -2.33% | 0.10% – 0.25% | - |
| 2020 | 0.10% | -0.79% | 0.10% – 0.75% | COVID-19 pandemic emergency rate cuts and record balance sheet expansion |
| 2019 | 0.75% | -1.03% | 0.75% – 0.75% | - |
| 2018 | 0.75% | -1.73% | 0.50% – 0.75% | - |
| 2017 | 0.50% | -2.19% | 0.25% – 0.50% | - |
| 2016 | 0.25% | -0.39% | 0.25% – 0.50% | Bank of Japan introduces Yield Curve Control (YCC); post-Brexit BoE easing |
| 2015 | 0.50% | +0.45% | 0.50% – 0.50% | - |
| 2014 | 0.50% | -0.97% | 0.50% – 0.50% | ECB and European peers introduce Negative Interest Rate Policy (NIRP) |
| 2013 | 0.50% | -2.07% | 0.50% – 0.50% | - |
| 2012 | 0.50% | -2.30% | 0.50% – 0.50% | - |
| 2011 | 0.50% | -3.96% | 0.50% – 0.50% | European Sovereign Debt Crisis and Swiss franc safe-haven surge |
| 2010 | 0.50% | -2.80% | 0.50% – 0.50% | - |
| 2009 | 0.50% | -1.69% | 0.50% – 1.50% | - |
| 2008 | 2.00% | -1.59% | 2.00% – 5.50% | Global Financial Crisis drives major central banks to the zero lower bound and QE1 |
| 2007 | 5.50% | +3.18% | 5.25% – 5.75% | - |
| 2006 | 5.00% | +2.65% | 4.50% – 5.00% | - |
| 2005 | 4.50% | +2.46% | 4.50% – 4.75% | - |
| 2004 | 4.75% | +3.41% | 3.75% – 4.75% | - |
| 2003 | 3.75% | +2.37% | 3.50% – 4.00% | - |
| 2002 | 4.00% | +2.76% | 4.00% – 4.00% | - |
| 2001 | 4.00% | +2.76% | 4.00% – 6.00% | Dot-com bust and synchronized G10 monetary easing cycle |
| 2000 | 6.00% | +5.20% | 5.75% – 6.00% | - |
| 1999 | 5.50% | +4.15% | 5.00% – 6.00% | Launch of the Euro and establishment of the European Central Bank (ECB) |
| 1998 | 6.25% | +4.69% | 6.25% – 7.50% | - |
| 1997 | 7.25% | +5.43% | 5.94% – 7.25% | Asian Financial Crisis triggers emergency EM currency defense hikes |
| 1996 | 5.94% | +3.51% | 5.69% – 6.12% | - |
| 1995 | 6.38% | +3.77% | 6.12% – 6.62% | - |
| 1994 | 6.12% | +4.13% | 5.12% – 6.12% | Global bond market selloff and pre-emptive Federal Reserve tightening cycle |
| 1993 | 5.38% | +2.83% | 5.38% – 5.88% | - |
| 1992 | 6.88% | +2.61% | 6.88% – 10.38% | European Exchange Rate Mechanism (ERM) crisis and Black Wednesday |
| 1991 | 10.38% | +2.84% | 10.38% – 13.88% | - |
| 1990 | 13.88% | +6.94% | 13.88% – 14.88% | German reunification tightening and Japanese asset bubble peak |
| 1989 | 14.88% | +9.63% | 12.88% – 14.88% | - |
| 1988 | 12.88% | +9.13% | 7.38% – 12.88% | - |
| 1987 | 8.38% | +5.17% | 8.38% – 10.88% | Louvre Accord and Black Monday central bank liquidity provision |
| 1986 | 10.88% | +7.55% | 9.88% – 12.38% | - |
| 1985 | 11.38% | +6.46% | 11.38% – 13.88% | Plaza Accord coordinated G5 currency intervention depreciates USD |
| 1984 | 9.50% | +5.24% | 8.56% – 12.00% | - |
| 1983 | 9.06% | +4.11% | 9.06% – 11.00% | - |
| 1982 | 10.00% | +1.84% | 9.62% – 13.88% | - |
| 1981 | 14.38% | +2.56% | 12.00% – 15.12% | Volcker disinflation peak pushes benchmark policy rates to postwar highs |
| 1980 | 14.00% | -1.23% | 14.00% – 17.00% | - |
| 1979 | 17.00% | +5.68% | 12.00% – 17.00% | Second oil shock; Paul Volcker appointed Federal Reserve Chair |
| 1978 | 12.50% | +5.01% | 6.50% – 12.50% | - |
| 1977 | 7.00% | -7.99% | 5.00% – 12.25% | - |
| 1976 | 14.25% | -1.59% | 9.00% – 15.00% | - |
| 1975 | 11.25% | -11.37% | 9.75% – 12.00% | - |
| 1974 | 11.50% | -4.18% | 11.50% – 12.75% | First OPEC oil shock triggers global stagflation and steep policy rate hikes |
| 1973 | 13.00% | +3.68% | 7.50% – 13.00% | - |
| 1972 | 9.00% | +1.80% | 5.00% – 9.00% | - |
| 1971 | 5.00% | -4.41% | 5.00% – 7.00% | Nixon Shock suspends USD gold convertibility; Bretton Woods system ends |
| 1970 | 7.00% | +0.49% | 7.00% – 8.00% | - |
| 1969 | 8.00% | +2.80% | 7.00% – 8.00% | - |
| 1968 | 7.00% | +3.00% | 7.00% – 8.00% | - |
| 1967 | 8.00% | +5.75% | 5.50% – 8.00% | - |
| 1966 | 7.00% | +3.00% | 6.00% – 7.00% | Credit crunch of 1966 and monetary tightening |
| 1965 | 6.00% | +1.74% | 6.00% – 7.00% | - |
| 1964 | 7.00% | +3.77% | 4.00% – 7.00% | - |
| 1963 | 4.00% | +1.88% | 4.00% – 4.00% | - |
| 1962 | 4.50% | +0.29% | 4.50% – 6.00% | - |
| 1961 | 6.00% | +2.75% | 5.00% – 7.00% | - |
| 1960 | 5.00% | +4.20% | 5.00% – 6.00% | - |
| 1959 | 4.00% | +3.39% | 4.00% – 4.00% | - |
| 1958 | 4.00% | +1.11% | 4.00% – 7.00% | Eisenhower recession and global monetary easing |
| 1957 | 7.00% | +3.15% | 5.00% – 7.00% | - |
| 1956 | 5.50% | +0.30% | 4.50% – 5.50% | - |
| 1955 | 4.50% | -0.57% | 3.50% – 4.50% | - |
| 1954 | 3.00% | +0.71% | 3.00% – 3.50% | Post-Korean War Federal Reserve policy rate normalization |
| 1953 | 3.50% | -0.15% | 3.50% – 4.00% | - |
| 1952 | 4.00% | -6.74% | 2.50% – 4.00% | - |
| 1951 | 2.50% | -6.53% | 2.00% – 2.50% | - |
| 1950 | 2.00% | -1.94% | 2.00% – 2.00% | - |
| 1949 | 2.00% | -0.79% | 2.00% – 2.00% | - |
| 1948 | 2.00% | -5.75% | 2.00% – 2.00% | - |
| 1947 | 2.00% | -4.99% | 2.00% – 2.00% | - |
| 1946 | 2.00% | -1.09% | 2.00% – 2.00% | - |
Frequently Asked Questions - BOE Policy Rate
What is the current Bank of England Official Base Rate?
As of Sep 2026, the Bank of England Official Base Rate is 3.75% per annum. Adjusted for headline inflation (3.09%), the ex-post real policy rate in United Kingdom stands at +0.66%.
What was the highest and lowest Bank of England interest rate on record?
Across the 1946-2026 archive, the Bank of England Official Base Rate reached a record high of 17.00% in Nov 1979 and a record low of 0.10% in Mar 2020. The long-run annual mean is 5.85%.
What is the Bank of England inflation target?
The Bank of England operates with an official inflation target of 2.0% (CPI 12-Month). Its statutory mandate is: Maintain monetary and financial stability for the United Kingdom.
Statistical Provenance
Source Metadata & Methodology Notes
- Primary Institution:
- Bank for International Settlements (BIS) & Bank of England
- Dataset / Dataflow:
- BIS Central Bank Policy Rates (WS_CBPOL)
- Canonical Series ID:
- WS_CBPOL:M:GB
- Reuse & License:
- Terms of permitted use of BIS statistics
- Primary compilation: From 3 Aug 2006 onwards: official bank rate; from 6 May 1997 to 2 Aug 2006: repo rate; from 20 Aug 1981 to 5 May 1997: minimum Bank of England Band 1 dealing rate; from 16 Oct 1972 to 19 Aug 1981: minimum lending rate; from 1 Jan 1946 to 15 Oct 1972: bank rate.
- Reporting agency: Bank of England; harmonized and disseminated via the BIS WS_CBPOL statistical dataflow.
- Annual table values represent the year-end (December or latest available month) policy rate reading; minimum and maximum columns record the intra-year policy rate corridor.
- Ex-Post Real Policy Rate series is computed as Nominal Policy Rate (% p.a.) minus contemporaneous year-on-year Headline CPI Inflation (% from BIS WS_LONG_CPI).
Academic & Media Attribution
Cite This Dataset (APA & BibTeX)
APA 7th Edition
CentralBankData.com. (2026). Bank of England Official Base Rate (United Kingdom), compiled from Bank for International Settlements (WS_CBPOL:M:GB). https://centralbankdata.com/bank-of-england-base-rate
BibTeX
@misc{cbd_cbpol_uk,
author = {CentralBankData.com},
title = {Bank of England Official Base Rate (United Kingdom)},
note = {Compiled from Bank for International Settlements WS_CBPOL:M:GB},
year = {2026},
url = {https://centralbankdata.com/bank-of-england-base-rate}
}Related Bank of England & Global Series
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