United Kingdom BOE interest rate

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United Kingdom BOE interest rate: 5.25 (0%)
Last Update: June 20, 2024

United Kingdom BOE interest rate closed down 5.25 as of June 20, 2024 from 5.25 from the previous month and 4.25 from last year.


United Kingdom BOE interest rate Analytics & Data




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United Kingdom BOE interest rate Statistics


IndicatorSymbolActualPreviousM/M%Y/Y%TrendSlopePercentileUpdate
BOE interest rateuk.interestrate5.255.25024UPUP522024-06-20

United Kingdom BOE interest rate Historical Data

The MacroVar database offers free access to historical data for the United Kingdom BOE interest 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 United Kingdom BOE interest rate data, supporting a wide range of research, financial analysis, and decision-making processes.

What is the United Kingdom BOE interest rate

The United Kingdom BOE interest rate, set by the Bank of England, is a key tool used to control inflation and support economic growth. The interest rate determines the cost of borrowing money, influencing consumer spending, investment, and overall economic activity. When the BOE increases the interest rate, it becomes more expensive for businesses and individuals to borrow, which can help to curb inflation by reducing demand. Conversely, lowering the interest rate can encourage borrowing and spending, stimulating economic growth. The BOE carefully monitors economic indicators and adjusts the interest rate accordingly to achieve its dual mandate of maintaining price stability and supporting sustainable growth.