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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 5.250 %

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 03 2023 5.250 %
 june 22 2023 5.000 %
 may 11 2023 4.500 %
 march 23 2023 4.250 %
 february 02 2023 4.000 %
 december 15 2022 3.500 %
 november 03 2022 3.000 %
 september 22 2022 2.250 %
 august 04 2022 1.750 %
 june 16 2022 1.250 %

Summary of other central banks’ interest rates

 central bank interest rate region percentage date
 FED interest rate United States 5.500 % 07-26-2023
 RBA interest rate Australia 4.100 % 06-06-2023
 BACEN interest rate Brazil 12.750 % 09-21-2023
 BoE interest rate Great Britain 5.250 % 08-03-2023
 BOC interest rate Canada 5.000 % 07-12-2023
 PBC interest rate China 3.450 % 08-21-2023
 ECB interest rate Europe 4.500 % 09-14-2023
 BoJ interest rate Japan -0.100 % 02-01-2016
 CBR interest rate Russia 13.000 % 09-18-2023
 SARB interest rate South Africa 8.250 % 05-25-2023

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)5.50 %07-26-2023
Australian interest rate (RBA)4.10 %06-06-2023
British interest rate (BoE)5.25 %08-03-2023
Canadian interest rate (BOC)5.00 %07-12-2023
European interest rate (ECB)4.50 %09-14-2023
Japanese interest rate (BoJ)-0.10 %02-01-2016
All central banks interest rates, click here
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