"SONIA (Sterling Overnight Index Average) is an important interest rate benchmark.
SONIA was selected by the Working Group on Sterling Risk Free Reference Rates as the preferred benchmark for the transition to sterling risk-free rates from LIBOR.
SONIA is based on actual transactions and reflects the average of the interest rates that banks pay to borrow sterling overnight from other financial institutions and other institutional investors."
Citation formats
Sterling Overnight Index Average (SONIA) in the UK 2018-2025
The Sterling Overnight Index Average (SONIA) - UK’s replacement for GBP London Inter-Bank Offered Rate (LIBOR), administered by the Bank of England - amounted to **** percent as of the end of February 2025. This is well above the value of **** percent recorded at the end of January 2018.
°Õ³ó±ðÌýLIBOR was one of the primary benchmarks for inter-bank short term lending interest rates around the world. It is calculated as an interest rate average using estimates submitted by the leading banks in London of how much they would be charged if they were to borrow from other banks. LIBOR was discontinued in the summer of 2023 and a variety of replacements have been offered since, among which the SONIA.
Profit from the additional features of your individual account
Currently, you are using a shared account. To use individual functions (e.g., mark statistics as favourites, set
statistic alerts) please log in with your personal account.
If you are an admin, please authenticate by logging in again.
Learn more about how ÌÇÐÄÆƽâ°æ can support your business.
Bank of England. (March 12, 2025). Value of Sterling Overnight Index Average (SONIA) from January 2018 to February 2025 [Graph]. In ÌÇÐÄÆƽâ°æ. Retrieved July 27, 2026, from /statistics/1214110/overnight-london-interbank-offered-rate-gbp/
Bank of England. "Value of Sterling Overnight Index Average (SONIA) from January 2018 to February 2025." Chart. March 12, 2025. ÌÇÐÄÆƽâ°æ. Accessed July 27, 2026. /statistics/1214110/overnight-london-interbank-offered-rate-gbp/
Bank of England. (2025). Value of Sterling Overnight Index Average (SONIA) from January 2018 to February 2025. ÌÇÐÄÆƽâ°æ. ÌÇÐÄÆƽâ°æ Inc.. Accessed: July 27, 2026. /statistics/1214110/overnight-london-interbank-offered-rate-gbp/
Bank of England. "Value of Sterling Overnight Index Average (Sonia) from January 2018 to February 2025." ÌÇÐÄÆƽâ°æ, ÌÇÐÄÆƽâ°æ Inc., 12 Mar 2025, /statistics/1214110/overnight-london-interbank-offered-rate-gbp/
Bank of England, Value of Sterling Overnight Index Average (SONIA) from January 2018 to February 2025 ÌÇÐÄÆƽâ°æ, /statistics/1214110/overnight-london-interbank-offered-rate-gbp/ (last visited July 27, 2026)
Value of Sterling Overnight Index Average (SONIA) from January 2018 to February 2025 [Graph], Bank of England, March 12, 2025. [Online]. Available: /statistics/1214110/overnight-london-interbank-offered-rate-gbp/
