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TABLE 30.1 WHOLESALE INTEREST AND DISCOUNT RATES
Interest rates
Sterling interbank rates (midpoint) 3 month Bank of England repo rate
Euro-currency offered rates
SONIA (a) 1 week 2 week 1 month 3 month 6 month 1 year US Euro (b) Date effective
End-qtr level
IUQ SOIA VWKA VWLA VNEA AMIJ VSMA VYRA ED3O ERB3 IUM BEDR
1998 Q2 7.42 7.41 7.41 7.46 7.80 7.86 7.95 5.65 4.24 1998 Oct 8 7.25
Q3 7.47 7.44 7.47 7.40 7.28 7.13 6.86 5.28 4.12 Nov 5 6.75
Q4 5.27 6.35 6.32 6.27 6.18 5.83 5.52 5.06 3.24 Dec 10 6.25
1999 Q1 6.38 5.38 5.38 5.30 5.22 5.13 5.16 4.93 2.97 1999 Jan 7 6.00
Q2 5.58 5.00 5.00 5.03 5.11 5.16 5.41 5.38 2.67 Feb 4 5.50
Q3 5.57 5.32 5.35 5.33 5.46 5.90 6.27 6.00 3.13 Apr 8 5.25
Q4 3.04 3.69 4.63 5.28 5.97 6.22 6.63 6.03 3.34 Jun 10 5.00
End-month level Sep 8 5.25
IUM(c) SOIA VWKA VWLA VNEA AMIJ VSMA VYRA ED3O ERB3 Nov 4 5.50
1999 Dec 3.04 3.69 4.63 5.28 5.97 6.22 6.63 6.03 3.34
2000 Jan 13 5.75
Monthly average
IUMA SOIA VWKA VWLA VNEA AMIJ VSMA VYRA ED3O ERB3 UK Banks' base rates (d)
1998 Dec 6.37 6.43 6.52 6.54 6.38 6.08 5.77 5.23 3.43 Date effective
IUM AMIH
1999 Jan 5.99 6.02 6.02 5.99 5.80 5.57 5.40 4.98 3.13 1998 Oct 8 7.25
Feb 5.79 5.66 5.63 5.59 5.43 5.30 5.24 4.98 3.09 Nov 5 6.75
Mar 5.58 5.47 5.44 5.40 5.30 5.24 5.26 4.99 3.07 Dec 10 6.25
Apr 5.33 5.30 5.28 5.26 5.23 5.20 5.24 4.95 2.71
May 5.27 5.28 5.30 5.29 5.25 5.24 5.35 4.99 2.62 1999 Jan 7 6.00
Jun 4.90 4.98 5.04 5.10 5.12 5.14 5.36 5.18 2.66 Feb 4 5.50
Jul 5.00 5.01 5.02 5.04 5.07 5.25 5.45 5.31 2.68 Apr 8 5.25
Aug 4.85 4.94 4.99 5.07 5.18 5.51 5.82 5.46 2.70 Jun 10 5.00
Sep 4.93 5.00 5.06 5.13 5.32 5.77 6.13 5.57 2.73 Sep 8 5.00-5.25
Oct 5.06 5.15 5.24 5.33 5.94 6.06 6.41 6.19 3.37 Sep 10 5.25
Nov 5.25 5.27 5.32 5.33 5.78 5.94 6.31 6.10 3.45 Nov 5 5.50
Dec 4.78 5.02 5.21 5.64 5.97 6.15 6.51 6.15 3.45
2000 Jan 13 5.75
Interest rates (continued) Discount rates
Gilt repo GC rates (e) Eligible bills 3 month 3 month Euro/
Treasury Bills Ecu Bills(f)
Overnight 1 week 2 week 1 month 3 months 6 months 1 year 1 month 3 month Sterling US $ Euro
End-qtr level
IUQ GRON GR1W GR2W GR1M GR3M GR6M GR1Y VJND AJND AJNB LUST LEB3
Q2 7.45 7.26 7.28 7.38 7.52 7.58 7.45 7.43 7.55 7.36 4.99 4.02
Q3 7.43 7.38 7.36 7.25 7.03 6.77 7.43 7.22 7.08 6.75 4.38 3.93
Q4 5.45 5.60 5.80 5.78 5.69 5.49 5.45 5.94 5.88 5.56 4.53 2.96
1999 Q1 5.95 5.08 5.11 5.03 4.90 4.83 4.87 5.13 5.01 4.87 4.47 2.75
Q2 4.95 4.75 4.75 4.75 4.79 4.82 5.06 4.86 4.88 4.71 4.83 2.42
Q3 5.33 5.22 5.23 5.21 5.30 5.45 5.83 5.20 5.32 5.18 4.82 2.56
Q4 3.30 3.75 4.80 5.20 5.54 5.88 6.26 5.39 5.69 5.62 5.38 3.08
End-month level
IUM(c) GRON GR1W GR2W GR1M GR3M GR6M GR1Y VJND AJND AJNB LUST LEB3
1999 Dec 3.30 3.75 4.80 5.20 5.54 5.88 6.26 5.39 5.69 5.62 5.38 3.08
Monthly average
IUMA GRON GR1W GR2W GR1M GR3M GR6M GR1Y VJND AJND AJNB LUST LEB3
1999 Dec 6.32 6.21 6.17 6.03 5.91 5.65 5.42 6.15 6.05 5.72 4.48 3.12
1999 Jan 5.90 5.88 5.85 5.76 5.47 5.27 5.08 5.80 5.63 5.28 4.43 2.85
Feb 5.66 5.49 5.45 5.38 5.20 5.03 4.94 5.43 5.28 5.04 4.53 2.83
Mar 5.45 5.31 5.27 5.16 5.03 4.95 4.96 5.23 5.11 4.92 4.56 2.78
Apr 5.26 5.14 5.12 5.07 5.00 4.93 4.96 5.12 5.02 4.90 4.38 2.42
May 5.18 5.14 5.13 5.07 5.01 5.00 5.04 5.17 5.08 4.93 4.61 2.33
Jun 4.83 4.86 4.88 4.85 4.87 4.89 5.03 4.95 4.94 4.76 4.68 2.39
Jul 4.88 4.85 4.84 4.82 4.81 4.80 5.08 4.88 4.89 4.76 4.66 2.41
Aug 4.86 4.84 4.83 4.84 4.95 5.04 5.43 4.90 4.94 4.85 4.82 2.53
Sep 4.94 4.98 5.01 5.05 5.16 5.29 5.70 5.07 5.16 5.08 4.81 2.59
Oct 5.04 5.13 5.17 5.23 5.34 5.59 5.98 5.27 5.42 5.25 4.98 2.93
Nov 5.22 5.23 5.26 5.28 5.33 5.58 5.98 5.34 5.43 5.20 4.96 3.07
Dec 4.94 5.02 5.16 5.20 5.54 5.82 6.20 5.41 5.59 5.49 5.34 3.16
Notes to Table 30.1
(a) SONIA is the sterling overnight interbank average.
(b) Prior to Jan 99, this series gives the 3 month Ecu euro currency offered rate (series LEL3). Post Jan 99, Frankfurt fixing (Euribor).
(c) For months between end-quarter periods, interim end-month data appear here.
(d) Data obtained from Barclays Bank, Lloyds Bank, HSBC Bank and National Westminster Bank whose rates are used to compile this series. Where all the rates did not change
on the same day a spread is shown.
(e) No data available prior to March 1996. GC rates are the repo rates on "general collateral" gilts; unspecified gilts used as "collateral" against cash loans. Rates are collected by
the Bank from a cross-section of market participants. Data on outstanding Gilt repo and stock lending are available in Table 23.
(f) Euro bills only have a single maturity date in any given month, namely the Thursday after the second Tuesday of the month. The end-quarter rate reflects the rate on the bill with
just under 3 months remaining to maturity. The monthly average is for the bill maturing in the month three months later.
T141
3 month Euro/
all the rates did not change
reflects the rate on the bill with
T141
