UK 10-year gilt yield

Source: Bank of England, series IUDMNZC. Daily, by noon on the following business day

UK 10-year gilt yield: every value, by year, with a CSV download →

What it measures

The 10-year gilt yield is the annual return investors require to lend to the UK Government for ten years. The Bank of England estimates it each day from the prices of gilts traded in the market, fitting a smooth yield curve across all maturities. The figure shown is the 10-year point on the nominal zero-coupon curve, which assumes a single payment at the end, so it can differ slightly from yields quoted for individual bonds by market data providers. When gilt prices fall, yields rise.

How to read it

Gilt yields reflect expected future Bank Rate, expected inflation and an extra return investors demand for holding long-term debt, which can rise with concerns about public finances. Higher yields mean new government borrowing costs more, but existing gilts keep their original coupons, so debt interest responds gradually. Yields also feed into fixed mortgage and savings rates. Compare UK yields with other countries' yields for the same maturity on the same day, since global moves are often shared. The Bank also publishes 2-year, 5-year and 20-year points and real (inflation-linked) yields.

Background

The Bank's daily series starts on 4 January 1982, at 15.06%. Yields fell over most of the following four decades, reaching a low of 0.11% on 4 August 2020. They rose sharply in 2022, peaking for that year at 4.54% on 10 October 2022, after the September fiscal statement. On 8 October 2026 the 10-year yield was 5.48%, the highest in the Bank's series since February 2000.

What is the UK 10-year gilt yield today?

The figure at the top of this page is the latest daily value in the Bank of England database, which is added by noon on the following business day. When this page was checked on 13 October 2026, the latest value was 5.45% for 9 October 2026.

Why are gilt yields rising?

The Bank of England and the Debt Management Office publish yields but do not give a single cause for each move. Yields reflect expectations for Bank Rate and inflation, the supply of new gilts, and global bond markets. The Bank's Monetary Policy Report and Financial Stability Report discuss recent movements.

What do gilt yields mean for mortgages?

Lenders price fixed-rate mortgages partly from market interest rates for the same period, which move with gilt yields. When yields rise, fixed mortgage rates tend to follow, as the Bank's quoted mortgage rate series shows.

What are gilt yields?

A gilt is a bond issued by the UK Government. The yield is the return an investor gets from buying it at today's market price and holding it to maturity. Because the price moves in the market, the yield changes every day even though the interest coupon is fixed.

Where can I find yields for other gilt maturities?

The Bank of England's yield curves page has daily nominal, real and implied inflation curves across a range of maturities. The Debt Management Office publishes prices and yields for individual gilts in issue.

Related questions

• How much does the UK spend on debt interest?
• What is the UK national debt?
• What is the Bank of England base rate today?
• Where can I find average UK mortgage rates?

More on this source: Bank of England Statistical Interactive Database