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Official Bank Rate, British central bank’s interest rate

Charts - historic Bank of England interest rates

Graph British interest rate BoE - interest rates last year

Graph British interest rate BoE - long-term graph

The current British interest rate BoE (base rate) is 0.250 %

Bank of England

The Bank of England (BoE) is the central bank for Great Britain (which includes England). The BoE is primarily focused on maintaining price stability and supporting the British government’s policy, which is aimed at economic growth. The 2 most important issues that the British central bank deals with a monetary and financial stability. Criteria for monetary stability are stable prices and confidence in the currency. In order to maintain stable prices it is important that price rises match the government's inflation targets (currently 2%). A low rate of inflation results in a stable economy and preservation of the value of the inhabitants’ money. As a tool the BOE uses the Bank of England base rate (BOEBR), now called the Official Bank Rate. For an overview of current inflation in Great Britain, click here or here for current inflation by country.

Official bank rate

When reference is made to the British or English interest rate this often refers to this BoE official bank rate, the official interest rate in Great Britain. This base rate is also referred to as the bank rate or Bank of England base. It is the rate that the Bank of England charges banks and financial institutions for loans with a maturity of 1 day. Decisions regarding the level of the interest rate are made by the monetary policy committee (MPC).

This page shows the current and historic values of the official bank rate (base rate) as set by the Bank of England.

For a summary of the current interest rates of a large number of central banks please click here.

Tables - current and historic British central bank interest rates

BoE latest interest rate changes

 change date percentage
 august 04 2016 0.250 %
 march 05 2009 0.500 %
 february 05 2009 1.000 %
 january 08 2009 1.500 %
 december 04 2008 2.000 %
 november 06 2008 3.000 %
 october 08 2008 4.500 %
 april 10 2008 5.000 %
 february 07 2008 5.250 %
 december 06 2007 5.500 %

Summary of other central banks’ interest rates

 central bank interest rate region percentage date
 FED interest rate United States 0.500 % 12-16-2015
 RBA interest rate Australia 1.500 % 08-02-2016
 BACEN interest rate Brazil 14.250 % 07-30-2015
 BoE interest rate Great Britain 0.250 % 08-04-2016
 BOC interest rate Canada 0.500 % 07-15-2015
 PBC interest rate China 4.350 % 10-23-2015
 ECB interest rate Europe 0.000 % 03-10-2016
 BoJ interest rate Japan 0.000 % 02-01-2016
 CBR interest rate Russia 10.000 % 09-16-2016
 SARB interest rate South Africa 7.000 % 03-17-2016

In order to be able to show the data on this page, we make use of a large number of sources of information that we believe to be reliable. For more information and our disclaimer, click here.

American interest rate (Fed)0.50 %12-16-2015
Australian interest rate (RBA)1.50 %08-02-2016
British interest rate (BoE)0.25 %08-04-2016
Canadian interest rate (BOC)0.50 %07-15-2015
European interest rate (ECB)-03-10-2016
Japanese interest rate (BoJ)-02-01-2016
All central banks interest rates, click here
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