|Lending Rate||06 Oct 2022||2.25||2.25||%, NSA||Business Daily|
|Monetary Policy Rate||06 Oct 2022||2.25||2.25||%, NSA||Business Daily|
|Average Long-term Government Bond||Aug 2022||-1.51||-1.29||%||Monthly|
|Money Market Rate||31 Dec 2021||0.18||0.19||% p.a., NSA||Business Daily|
|Treasury Bills (over 31 days)||Jun 2018||0.5||0.5||%||Monthly|
The Bank of England (BoE) reports wholesale interest rates: the Official Bank Rate, Repo rate, Sterling mean interbank (midpoint), Euro-currency offered rate, Gilt repo (general collateral) rates, EURIBOR, Overseas currency deposit rates (3 months), Sterling certificate of deposit rates (3 months), and Discount rate.
It is the rate at which the Bank of England, acting as lender of last resort, would normally lend to members of the discount market against security (e.g. Treasury Bills and eligible bills).
Gilt repo market
Gilt repo transactions are sale and repurchase agreements in British government stock, conducted in accordance with legal documentation. A repo transaction may be stock or money-driven; a stock may be reverse-repoed (bought with an agreement to re-sell it) to cover a short position, e.g. cash may be borrowed against a repo of a mixture of gilts as "collateral" for the loan. The latter, a general collateral (GC) transaction, is a money-driven trade, and so GC repo is a market in secured money. The rates quoted in the table are indicative secondary market mid-rates of bid and offer GC rates collected at 8.30am.
A deposit in an institution of the same home as the currency but held outside the country of origin. The 3 month Euro-dollar and Ecu/Euro are market rates for deposits in the London euro-currency market.
EURIBOR is the European Interbank Offered Rate for money market deposits. Since 4 January 1999, the European Banking Federation and the EMU division of ACI, the Financial Markets Association, have sponsored the calculation of Euribor (with reference to a panel of 57 banks). Euribor is the rate at which euro interbank term deposits are being offered within the EMU zone by one prime bank to another at 11:00am Brussels time.
Eurodollar deposits in London
These are middle-market rates for US dollar deposits as recorded by the Bank of England during the late afternoon. Figures shown here up to and including 1979 3rd quarter are averages of Friday observations. Thereafter, they are based on daily observations.
Euro-currency is defined as a deposit placed in an institution of the same domicile as the currency but held outside the country of origin. Paris is the main centre of the Euro-Sterling market. The rate given is the middle-market rate as recorded by the Bank of England during the late afternoon. Figures shown here up to and including 1979 3rd quarter are averages of Friday observations. Thereafter, they are based on daily observations.