Sonia Rate
Last Update: November 18, 2024
Sonia Rate Analytics & Data
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Sonia Rate closing prices of the last 24 values are displayed below. Sign up free to download the full historical data series using MacroVar Web/Excel or API.
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Sonia Rate
| Date | Values |
|---|---|
| 2024-11-18 | 4.7 |
| 2024-11-15 | 4.7 |
| 2024-11-14 | 4.7 |
| 2024-11-13 | 4.7 |
| 2024-11-12 | 4.7 |
| 2024-11-11 | 4.7 |
| 2024-11-08 | 4.7 |
| 2024-11-07 | 4.7 |
| 2024-11-06 | 4.95 |
| 2024-11-05 | 4.95 |
| 2024-11-04 | 4.95 |
| 2024-11-01 | 4.95 |
| 2024-10-31 | 4.95 |
| 2024-10-30 | 4.95 |
| 2024-10-29 | 4.95 |
| 2024-10-28 | 4.95 |
| 2024-10-25 | 4.95 |
| 2024-10-24 | 4.95 |
| 2024-10-23 | 4.95 |
| 2024-10-22 | 4.95 |
| 2024-10-21 | 4.95 |
| 2024-10-18 | 4.95 |
| 2024-10-17 | 4.95 |
| 2024-10-16 | 4.95 |
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Sonia Rate Statistics
| Indicator | Symbol | Actual | Previous | M/M% | Y/Y% | Trend | Slope | Percentile | Update |
|---|---|---|---|---|---|---|---|---|---|
| Sonia Rate | SOFR | 4.7 | 4.7 | 0 | -5 | Down | Down | 8 | 2024-11-18 |
Sonia Rate Historical Data
The MacroVar database offers free access to historical data for the Sonia Rate, dating back to 1950. This extensive dataset is readily available through MacroVar versatile platforms, including a user-friendly web interface, a robust Python API, and convenient Excel integration. By leveraging these tools, users can efficiently retrieve and analyze decades of Sonia Rate data, supporting a wide range of research, financial analysis, and decision-making processes.What is the Sonia Rate
The Sterling Overnight Index Average (SONIA) Rate is a key macroeconomic indicator widely used in the United Kingdom to measure the average interest rate at which banks lend to one another on an unsecured basis in the overnight market. As such, the SONIA Rate plays a crucial role in influencing a wide range of financial products and transactions, serving as a benchmark for various financial instruments, including derivatives, loans, and bonds. This indicator is calculated and published daily by the Bank of England and is considered a reliable gauge of the prevailing market conditions and sentiment within the UK financial system. The SONIA Rate is particularly significant in the realm of monetary policy, as central banks, policymakers, investors, and financial institutions utilize it to assess the overall health of the economyWhat is the SONIA rate
SONIA stands for the Sterling Overnight Index Average, and it's the key interest rate benchmark for the British pound sterling (GBP). It represents the average interest rate paid on overnight unsecured loans in the wholesale money markets. SONIA is widely used in financial markets as a reference rate for various financial instruments, including loans, bonds, and derivatives. It's an important benchmark for the UK financial system and is considered a more reliable indicator of market conditions than the previous benchmark, the London Interbank Offered Rate (LIBOR).
SONIA rate details
The Sterling Overnight Index Average, or SONIA, is a crucial interest rate benchmark in the financial landscape of the United Kingdom. This benchmark reflects the average interest rate paid on overnight unsecured loans between financial institutions in the sterling money markets. Unsecured loans are those without collateral, making SONIA a key indicator of the health and stability of the UK financial system.
SONIA is published daily by the Bank of England and represents the weighted average of interest rates on unsecured overnight transactions in the wholesale money market. Unlike the previous benchmark, LIBOR, which relied on banks' submissions, SONIA is based on actual transaction data, providing a more accurate and transparent reflection of market conditions.
This benchmark plays a pivotal role in various financial markets and serves as a reference rate for a wide range of financial instruments. Loans, bonds, and derivatives are commonly linked to SONIA, making it an essential tool for pricing and valuing financial products.
One of the key advantages of SONIA is its resilience to manipulation, as it is based on observable, transaction-based data rather than subjective submissions. This feature enhances the credibility and reliability of SONIA, addressing some of the concerns that arose with benchmarks like LIBOR during the financial crisis.
In summary, SONIA is a vital interest rate benchmark that contributes to the efficiency and integrity of the UK financial system. Its transparency and reliance on actual transaction data make it a trusted reference rate for market participants and regulators alike.