What are Yield Curves?

The Monetary Instruments and Markets Division of the Bank of England estimates yield curves for the UK on a daily basis. They are of two kinds. One set is based on yields on UK government bonds (gilts) and includes nominal and real yield curves and the inflation term structure for the United Kingdom. The other set is based on sterling interbank rates (LIBOR) and on yields on instruments linked to LIBOR, short sterling futures, forward rate agreements and LIBOR-based interest rate swaps. These commercial bank liability curves are nominal only.

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Page Last Updated: 18 March 2010
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Enquiries should be directed to :-
yieldcurve@bankofengland.co.uk

Latest data (current month)
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	Nominal (commercial bank liability) (2.6mb)	Chart
	Nominal (government liability) (1.9mb)	Chart
	Real (government liability) (405k)	Chart
	Implied inflation (government liability) (1.1mb)	Chart

Key Resources

	Yield curve terminology and concepts Notes on the Bank of England Yield Curves Download PDF (24k)
	Commercial bank liability curve Bank of England Quarterly Bulletin Nov 2000 Download PDF (18k)

UK instantaneous commercial bank liability forward curve

* The curve on the day of the previous MPC meeting is provided as reference point

UK instantaneous implied inflation forward curve

* The curve on the day of the previous MPC meeting is provided as reference point

UK instantaneous nominal forward curve

* The curve on the day of the previous MPC meeting is provided as reference point

UK instantaneous implied real forward curve

* The curve on the day of the previous MPC meeting is provided as reference point