Central Bank RatesUnited Kingdom policy rate in 2023 (5 changes)
Start of year3.50%
End of year5.25%Dec 29, 2023
Net change+175 bp5 hikes, 0 cuts
Average4.682%
Rank by level23 / 38
Changes in 2023
| Date | From | To | Change |
|---|---|---|---|
| Feb 2, 2023 | 3.50% | 4.00% | hike +50 bp |
| Mar 23, 2023 | 4.00% | 4.25% | hike +25 bp |
| May 11, 2023 | 4.25% | 4.50% | hike +25 bp |
| Jun 22, 2023 | 4.50% | 5.00% | hike +50 bp |
| Aug 3, 2023 | 5.00% | 5.25% | hike +25 bp |
Compared with other areas at the end of 2023
42.5%
16%
13%
11.75%
11.25%
10.75%
9.25%
8.25%
8.25%
7%
6.75%
6.75%
6.5%
6.5%
6.5%
6.3%
6%
6%
5.75%
5.75%
5.5%
5.375%
5.25%
5%
4.75%
4.5%
4.5%
4.35%
4.25%
4%
3.6%
3.5%
3.45%
3%
3%
2.5%
1.75%
-0.1%
Year-end rate over time
3.75%
3.75%
4.75%
5.25%
3.5%
0.25%
0.1%
0.75%
0.75%
0.5%
0.25%
0.5%
0.5%
0.5%
0.5%
0.5%
0.5%
0.5%
2%
5.5%
5%
4.5%
4.75%
3.75%
4%
4%
6%
2023: hikes and cuts worldwide →
Daily policy-rate data compiled by the BIS. Not investment advice.