UK official statistics (ONS, Bank of England, DEFRA, HMRC, DBT, and DfT) ·
UK October 2026: pound tops €1.20 and gilt yields fall after the Budget
The pound rose to 1.2001 euros on 30 October, up about 2.6% from 1.1696 on 30 September. UK government bond yields fell after the 28 October Budget. Bank Rate stayed at 3.75%.
A data update from FactIQ, written from UK official statistics (ONS, Bank of England, DEFRA, HMRC, DBT, and DfT) figures. What is FactIQ?
Key figures
- Euros per pound, 30 October
- 1.2001up from 1.1696 on 30 Sep, a rise of about 2.6%2026-08-252026-10-30Spot exchange rate - Euro into Sterling
- UK 10-year government bond yield, 29 October
- 5.259%down about 5 basis points the day after the 28 Oct Budget; lowest since 22 Sep2026-08-242026-10-29Yield from British Government Securities - 10 year Nominal Par Yield
- Bank of England Bank Rate, 30 October
- 3.75%unchanged ahead of Thursday's Bank of England meeting2026-08-252026-10-30Official Bank Rate
- US dollars per pound, 30 October
- 1.3397up from 1.3301 on 28 Oct2026-08-252026-10-30Spot exchange rate - US $ into Sterling
The pound gained against the euro and other major currencies
The euro–sterling rate shows how many euros one pound buys. It closed at 1.2001 euros per pound on 30 Oct, up from 1.1696 on 30 Sep. That is a rise of about 2.6% in one month.
The pound also rose against other currencies:
- US dollar: 1.3397 dollars per pound, up from 1.3301 on 28 Oct.
- Effective exchange rate index: 86.30, up from 85.16 on 14 Oct. This index measures the pound against a weighted basket of trading partners' currencies.
- Japanese yen: one pound bought 210.97 yen.
Gilt yields fell the day after the Budget
Gilts are UK government bonds. Their yields set the cost of government borrowing. Healey delivered the Budget on 28 Oct. On 29 Oct, nominal par yields fell across maturities:
- 10-year: down about 5 basis points (hundredths of a percentage point) to 5.259%. This was its lowest level since 22 Sep. It was about 17 basis points below the 8 Oct high of 5.429%.
- 5-year: down about 5.5 basis points to 4.906%.
- 20-year: down about 4 basis points to 5.545%, below the 5.748% reached on 9 Oct.
Policy rates have not moved ahead of Thursday's Bank of England decision
Bank Rate is the Bank of England's main policy interest rate. It was still 3.75% on 30 Oct. The Sterling Overnight Index Average (SONIA) was 3.735% on 29 Oct. SONIA is the average interest rate banks pay to borrow sterling overnight. Economists widely expect the Bank of England (BoE) to raise rates at its meeting on Thursday. Yields and SONIA are published one day behind the exchange rates.
Source: UK official statistics (ONS, Bank of England, DEFRA, HMRC, DBT, and DfT). See all UK data in FactIQ.