0.1 percent. This historic low came just one week after the Bank of England cut rates from 0.75 percent to 0.25 percent in a bid to prevent mass job cuts in the United Kingdom. In the current forecast scenario, bank interest rates are set to stay between 0.1 percent and 0.2 percent up to 2022.
Based on an "illustrative scenario" in which the United Kingdom (UK) moves to a comprehensive free trade agreement with the European Union (EU) on the 1st of January 2021, this forecast shows the expected annual average bank base interest rate in response to the current Covid-19 pandemic. In a bid to minimize the economic effects of the Covid-19 virus, on the 19th of March 2020 the Bank of England cut the official bank base rate to a record low of Forecasted annual average bank interest rate in the United Kingdom (UK) from 2008 to 2022
Loading statistic...
Basic Account
Get to know the platform
You only have access to basic statistics.
Starter Account
The ideal entry-level account for individual users
- Instant access to 1m statistics
- Download in XLS, PDF & PNG format
- Detailed references
$199 USD / Month *
Professional Account
Full access
Business Solutions including all features.
* Prices do not include sales tax.
Other statistics that may interest you Statistics on
About the industry
10
- Basic Statistic Fixed rate interest rates set by the ECB 2008-2023
- Basic Statistic Annual Fed funds effective rate in the U.S. 1990-2023
- Basic Statistic Fluctuation of the ECB interest rate on marginal lending facilities 2008-2023
- Basic Statistic Fluctuation of the ECB interest rate on deposit facilities 2008-2023
- Premium Statistic Annual prime loan rate of banks in the U.S. 1990-2023
- Premium Statistic Applications for home loan term changes to banks in Japan 2020-2023, by status
- Premium Statistic Deposit interest rate Australia 2010-2019
- Premium Statistic Size of Federal Reserve's balance sheet 2007-2024
- Premium Statistic Total assets of banks in Europe Q4 2022, by country
- Premium Statistic Quarterly assets of banking industry in Europe 2015-2023
About the region
10
- Premium Statistic Quantitative easing by the Bank of England 2009-2020
- Premium Statistic Monthly bank rate in the UK 2012-2023
- Basic Statistic COVID-19: forecast hotel occupancy in London April-June 2020
- Premium Statistic Public perception of who sets interest rates in the UK 2019
- Premium Statistic Daily development FTSE 100 Index UK 2019-2023
- Basic Statistic Breathing appliances and gas masks: UK import value 2003-2022
- Premium Statistic Annual change in GHG emissions in the UK 2019-2022, by sector
- Basic Statistic RPI annual inflation rate UK 2000-2028
- Basic Statistic CPI annual inflation rate UK 2000-2028
- Premium Statistic Average mortgage interest rate in the UK 2010-2023, per quarter
Other regions
10
- Premium Statistic Central bank policy rates in advanced and emerging economies 2019-2023
- Basic Statistic Chile: company problems due to COVID-19
- Premium Statistic Interest on deposit accounts in China 2009-2022
- Premium Statistic Key interest rate of Turkey from 1993 to 2016
- Premium Statistic National policy rate in Denmark 2011-2021
- Premium Statistic National policy rate in Norway 2011-2021
- Premium Statistic Perceived economic impact of the COVID-19 outbreak South Korea 2020
- Basic Statistic U.S. energy storage capacity addition revised outlook due to Covid-19 2020
- Basic Statistic Estimated effect of COVID-19 preventive holidays for Russian economy 2020
- Basic Statistic Forecast of goods and services export in the CEE region 2020
Related statistics
10
- Basic Statistic Total assets of the Eurosystem 2012-2022
- Basic Statistic Monthly Fed funds effective rate in the U.S. 1954-2024
- Basic Statistic Number of banks in Italy 2011-2022
- Basic Statistic Number of bank branches in Italy 2011-2022
- Basic Statistic Net income of the ECB 2012-2022
- Basic Statistic Reserve assets of the ECB 1999-2023
- Basic Statistic Value of ECB open market operations 2018-2023
- Premium Statistic Assets of financial institutions in the U.S. 2002-2022, by institution type
- Premium Statistic Assets of financial institutions in Canada 2002-2022, by institution type
- Premium Statistic Total assets of financial institutions in select European countries 2022
Further Content: You might find this interesting as well
Statistics
Bank of England. (May 7, 2020). Forecasted annual average bank interest rate in the United Kingdom (UK) from 2008 to 2022 [Graph]. In Statista. Retrieved May 13, 2024, from https://www.statista.com/statistics/1118490/annual-average-bank-interest-rate-in-the-united-kingdom/
Bank of England. "Forecasted annual average bank interest rate in the United Kingdom (UK) from 2008 to 2022." Chart. May 7, 2020. Statista. Accessed May 13, 2024. https://www.statista.com/statistics/1118490/annual-average-bank-interest-rate-in-the-united-kingdom/
Bank of England. (2020). Forecasted annual average bank interest rate in the United Kingdom (UK) from 2008 to 2022. Statista. Statista Inc.. Accessed: May 13, 2024. https://www.statista.com/statistics/1118490/annual-average-bank-interest-rate-in-the-united-kingdom/
Bank of England. "Forecasted Annual Average Bank Interest Rate in The United Kingdom (Uk) from 2008 to 2022." Statista, Statista Inc., 7 May 2020, https://www.statista.com/statistics/1118490/annual-average-bank-interest-rate-in-the-united-kingdom/
Bank of England, Forecasted annual average bank interest rate in the United Kingdom (UK) from 2008 to 2022 Statista, https://www.statista.com/statistics/1118490/annual-average-bank-interest-rate-in-the-united-kingdom/ (last visited May 13, 2024)
Forecasted annual average bank interest rate in the United Kingdom (UK) from 2008 to 2022 [Graph], Bank of England, May 7, 2020. [Online]. Available: https://www.statista.com/statistics/1118490/annual-average-bank-interest-rate-in-the-united-kingdom/