This tool allows you to make side-by-side comparisons of changes to the Bank Rate and the target for the overnight rate over time. You can also determine when the rate was last at a specified level, or changed by a specified amount.
About the key interest rate
Since 2001, the Bank's "key interest rate" has been the target for the overnight rate. The target is set at the midpoint of the Bank's operating band.
Previously, the key interest rate was the Bank Rate. The Bank Rate still exists, and is currently set at the top of the operating band. However, other methods have been used to set the Bank Rate in the past.