Bank Lending Rate in the United Kingdom remained unchanged at 1.75 percent in May from 1.75 percent in April of 2019. Bank Lending Rate in the United Kingdom averaged 7.32 percent from 1950 until 2019, reaching an all time high of 18 percent in November of 1979 and a record low of 1.25 percent in August of 2016.
Bank Lending Rate in the United Kingdom is expected to be 1.75 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Bank Lending Rate in the United Kingdom to stand at 1.75 in 12 months time. In the long-term, the United Kingdom Prime Lending Rate is projected to trend around 2.00 percent in 2020, according to our econometric models.