World Economy/United Kingdom

🇬🇧

United Kingdom

GBR

Europe • Sovereign Currency: GBP

Analyze United Kingdom with Schema AI

Nominal GDP

$3.5T

2024 Nominal

Annual GDP Growth

+1.0%

YoY Q3 2024 YoY

Inflation (CPI)

2.3%

Oct 2024 CPIH YoY

Policy Rate

4.75%

Bank Rate

10Y Sovereign Yield

4.47%

10-Year UK Gilt

Unemployment Rate

4.3%

Jul-Sep 2024

Debt-to-GDP

98.5%

Sep 2024 Public Sector Net Debt

Trade Balance

$-4.5B

Sep 2024 Deficit

BLOOMBERG ECONOMICS MONETARY POLICY TRANSMISSION

🇬🇧BANK OF ENGLAND POLICY DASHBOARD

Target Instrument: Official Bank Rate • Sovereign: United Kingdom (GBR)

STANCE: neutral

Next Meeting: 2026-11-07

LOOSER CONDITIONSIN LINE WITH TARGETTIGHTER CONDITIONS

STATUTORY BENCHMARK

4.75%Unchanged (0 bps)

Official Bank Rate

REAL CARRY SPREAD (r - π)

+2.45%

Restrictive Drag

OVERNIGHT BENCHMARK (SONIA)

4.70%-5 bps

Sterling Overnight Index Average

YIELD CURVE SLOPE (10Y - r)

-0.28%

Inverted Term Structure

WAGES & PRICES2 METRICS

Headline CPI Inflation (YoY)Oct 2024 CPIH YoY

Anchored within standard statutory price stability corridor

Office for National Statistics (ONS)Ref

2.30%

LOOSER

Distance to Inflation Target (2.0%)Oct 2024 CPIH YoY

Headline inflation exceeds 2% anchor by 0.30 percentage points

Office for National Statistics (ONS)Ref

+0.30%

LOOSER

SUPPLY & DEMAND2 METRICS

Annual Real GDP Growth RateQ3 2024 YoY

Sluggish real economic momentum

Office for National Statistics (ONS)Ref

1.00%

MILD TIGHT

Unemployment Rate (Labor Slack)Jul-Sep 2024

Balanced labor market matching full employment capacity

Office for National Statistics (ONS)Ref

4.30%

MILD LOOSE

FINANCIAL CONDITIONS4 METRICS

Official Bank RateBank Rate

Official statutory policy target rate set by Bank of England

Bank of England (BoE)Ref

4.75%

LOOSER

Real Carry Rate (Policy - CPI)Calculated

Positive real return regime delivering restrictive monetary drag

Bank of England vs Office for National Statistics (ONS)

+2.45%

LOOSER

10-Year Sovereign Benchmark Yield10-Year UK Gilt

Long-term sovereign borrowing benchmark discounting term premium & inflation risk

UK Debt Management Office (DMO)Ref

4.47%

IN LINE

Yield Curve Slope (10Y - Policy Rate)Calculated

Inverted yield curve by 0.28% signaling restrictive monetary drag

Sovereign Debt Desk vs Central Bank Target

-0.28%

TIGHTER

EXTERNAL & FISCAL2 METRICS

Current Account / Trade BalanceSep 2024 Deficit

Trade deficit requiring external capital inflows or debt financing

Office for National Statistics (ONS)Ref

$-4.5B

IN LINE

General Government Debt / GDPSep 2024 Public Sector Net Debt

High public debt burden consuming fiscal policy maneuverability

ONS / UK TreasuryRef

98.50%

MILD TIGHT

HISTORICAL RATE DECISION TRAJECTORY (OFFICIAL BANK RATE)

Verified Chronological Decisions

2026-10-09

4.75%

Policy Assessment Summary: Official Bank Rate set by the Monetary Policy Committee.

Key Domestic Equities & Capital Markets

Major corporate champions tracked in WOWS with sovereign economic exposure

Index: FTSE 100 (FTSE)

ULVR• Consumer Staples

Unilever plc